Diplomatic Breakthrough in US-Iran Negotiations Expected This Week, Al-Arabiya Reports

A diplomatic breakthrough in US-Iran negotiations is expected to be announced this week, Al-Arabiya reported, potentially leading to the reopening of the Strait of Hormuz. The anticipated agreement arrives ahead of the Nov. 3 US midterm elections and with WTI crude oil trading near $100 per barrel. Iran reiterated an offer to reopen the critical waterway within seven days if the US lifts maritime blockades on Iranian ports, eases oil export sanctions, and halts regional hostilities. However, disagreements have persisted over whether maritime security and economic relief should precede concessions on Iran's nuclear program.