Welcome to ongoing coverage of developments in the Middle East. US Secretary of State Marco Rubio stated Monday that an agreement to conclude the conflict with Iran could be reached soon. His remarks followed a drop in oil prices and gains in Asian shares, driven by hopes that Washington and Tehran are nearing terms to end the three-month war and restore access through the Strait of Hormuz. Brent crude futures fell 4.5 percent to $98.83 a barrel. Rubio, speaking in New Delhi, noted that negotiators had expected updates the previous evening or that day and described the current proposal as solid for reopening the waterway, with backing from Gulf states. President Donald Trump had earlier urged caution, telling his team not to hurry. He described the talks as orderly and constructive. Reports indicated the United States was close to an accord that would halt fighting and reopen the strait, a key route for energy shipments. Trump confirmed that restrictions on Iranian vessels would stay in place until any pact is finalized and verified. Both parties were advised to proceed carefully. Some analysts compared the emerging framework to the 2015 nuclear agreement that Trump had previously abandoned. Others described it as largely restoring conditions that existed before the recent conflict.
