Iran offers Hormuz reopening in two days; oil falls 6%

Summary

Iran has offered to reopen the Strait of Hormuz within two days if Washington accepts its conditions, after its delegation temporarily withdrew from the Qatar-mediated talks, and oil prices fell more than 6% on the news.⁠12

Tehran says everything depends on the United States, and a draft proposal is being circulated while a follow-up meeting is possible, but no final agreement has been reached.⁠34

President Trump has threatened to resume the offensive after the midterm elections on November 3, and Netanyahu has reportedly urged him to strike soon after the vote.⁠56

In Africa, the Bundibugyo-strain Ebola outbreak has killed more than 5,300 people and infected over 10,000 since May, spreading to Kenya, Uganda and Nigeria.⁠7

In Latin America, Bolivia's president declared a state of emergency on Saturday as a 'super El Niño' continues to strengthen in the Pacific.⁠8

The next test for the Strait of Hormuz is whether Iran's two-day reopening offer becomes an arrangement with Washington, or whether the post-midterm strike threat is carried out.⁠1