Qatar's Foreign Ministry spokesperson Majed Al-Ansari said on Tuesday that efforts are ongoing to seek a diplomatic resolution to the US-Iran conflict. Al-Ansari stated that mediators including Qatar, Pakistan and Oman are coordinating closely to facilitate negotiations and exchange drafts between both sides.
An attack on a vessel near the Strait of Hormuz and a rebound in oil prices on Tuesday underscored doubts that the US-Iran war was nearing a resolution, as Tehran pushed back against US President Donald Trump's assertion that talks were under way.
Oil prices rose nearly 3 per cent after a steep selloff in the previous session as investors reassessed optimism over diplomacy, while a cargo vessel reported being struck by an unidentified projectile near the Strait of Hormuz off Oman's coast, according to the UKMTO maritime security agency.
Iran has halted most traffic through Hormuz while Washington maintains a blockade of Iranian shipping and ports, disrupting a corridor that normally carries about a fifth of global oil and Liquefied Natural Gas (LNG) shipments.
The dispute over Hormuz remains a central point of contention. Washington says the June memorandum required Iran to reopen the strategic waterway, while Tehran says the text explicitly preserved its authority over shipping traffic.