Iran has renewed an offer to reopen the Strait of Hormuz within a week, setting out terms that Washington has so far not accepted, even as oil prices eased on Monday on expectations of extra supply from Russia.
Iranian Foreign Minister Abbas Araqchi said the seven-day proposal remains available despite stalled negotiations, according to Reuters. Tehran’s conditions include lifting the US naval blockade on Iranian ports, removing sanctions on Iranian oil exports and ending regional hostilities. Washington continues to insist that any negotiations address Iran’s nuclear programme.
A waterway still in limbo
The impasse leaves uncertainty over when normal commercial shipping might resume through a waterway that previously carried about one-fifth of global oil and liquefied natural gas trade. US Central Command said last week that 400 commercial vessels passed through the strait, while Kpler data cited by Gulf News showed Gulf crude exports falling to about 8.5 million barrels a day last week from more than 20 million the previous week. The figures come from different sources and measures, and the picture of actual traffic remains hard to pin down.
Oil prices dip
Brent crude fell 2.08 per cent to $107.57 a barrel in Monday morning trading, Reuters reported, after US President Donald Trump moved to waive new sanctions and tariffs on Russia that could allow additional fuel supplies to reach the market. US West Texas Intermediate declined to $99.46.
The move was modest relative to the scale of the disruption. Prices remain far above pre-war levels, and shipping risks are still substantial. For UAE residents, domestic petrol prices do not change automatically with daily crude movements. They are set monthly by the Fuel Price Committee, and October’s rates were already raised for a third consecutive month.
UAE and Saudi leaders meet
Diplomacy continued on the security front. UAE President Sheikh Mohamed bin Zayed Al Nahyan met Saudi Defence Minister Prince Khalid bin Salman in Abu Dhabi on Sunday. According to the Emirates News Agency, the talks focused on strengthening bilateral cooperation, regional security and efforts to achieve lasting peace.
The meeting comes as Saudi Arabia faces repeated Houthi missile and drone attacks on airports and energy infrastructure. Separately, the UAE Ministry of Foreign Affairs expressed condolences over the deaths of two Saudi officers in a helicopter crash near Najran.
Egypt weighs military support
Egypt’s National Defence Council has pledged all necessary support to Saudi Arabia, and President Abdel Fattah Al Sisi has requested an urgent parliamentary session to authorise assistance if Riyadh asks for it, Reuters reported. The parliamentary vote has been delayed, according to The National. Any deployment could widen the conflict, and fighting in Yemen also threatens Bab Al Mandab, the strategic passage linking the Red Sea and the Gulf of Aden. For UAE importers and exporters, further instability there could raise shipping insurance premiums, freight costs and delivery times.
Travel remains disrupted
Etihad Airways has extended cancellations between Abu Dhabi and Riyadh, Dammam and Jeddah until Saturday, October 24. All Abu Dhabi–Riyadh and Abu Dhabi–Dammam services are cancelled, along with four daily services to Jeddah. Flydubai has also extended its Saudi cancellations to October 24, according to regional reports.
Riyadh’s King Khalid International Airport reopened on Sunday after deadly Houthi attacks, but several international airlines are still suspending operations. Reopening does not guarantee that flights will run, so passengers should check their booking directly with airlines.
What residents should know
Official statements reviewed announced no new UAE-wide restrictions on daily life. Residents are advised to keep following government announcements and airline advisories.
The key signals to watch are whether Washington engages with Iran’s seven-day proposal, how oil responds to additional Russian supply, and whether Egypt’s parliament approves any support for Saudi Arabia.
Comments 1