Oman (Ceasefire Mediator)

Force in Play

Continues as an active mediation channel; the US and Iran exchanged messages through mediators in October. Neither side expects a breakthrough before the US midterms on November 3 or Israel's election on October 27.

Oil prices have fallen sharply. Brent touched $89.65 on November 10, its lowest since August 31, and traded near $92, about 23% below the October 30 peak near $118. President Trump said he would hold off on further strikes on Iran after appeals from regional countries, while keeping the US naval blockade in the Strait of Hormuz.

Updated Yesterday