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Middle East Tensions Show Signs of Easing: Iran and GCC to Meet on September 14 to Discuss Strait of Hormuz Agreement, Houthis Announce Ceasefire on Red Sea West Coast
Iran's Foreign Minister and the foreign ministers of the six Gulf Cooperation Council (GCC) countries are scheduled to meet on September 14 (next Monday) in Salalah, Oman, to seek support for an interim agreement to regulate commercial vessel traffic in the Strait of Hormuz. Meanwhile, Yemen's Houthi Supreme Political Council issued a statement announcing that clashes in the western Red Sea coastal provinces have ceased. Affected by this news, Brent crude oil fell nearly 2.0% during the day to $105.57 per barrel; spot gold rose 1% to $4,357.59 per ounce; Bitcoin fell below $77,000, and U.S. stock futures rallied across the board.
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