Qatari mediators held talks in Tehran to restart direct negotiations between Washington and Tehran, a source told CNBC. The effort comes as the Nov. 3 U.S. midterms approach and U.S. officials warn allies about possible renewed strikes on Iran. Oil prices have climbed to their highest levels since the end of April.
Qatari mediators have held talks with Iranian officials to restart direct negotiations between Washington and Tehran, an official source familiar with the discussions told CNBC on Saturday. The source spoke on condition of anonymity.
The mediators held more than 12 hours of talks in Tehran on Friday to reach a deal that avoids a possible resumption of American-led attacks on Iran after the U.S. midterm elections. Axios first reported the talks, which it said are set to continue in Doha on Saturday.
A broken truce and a looming election
A preliminary agreement signed on June 17 to halt the fighting broke down weeks later. The war began on Feb. 28 with U.S. and Israeli strikes on Iranian targets, and the last confirmed U.S. strikes occurred on Sept. 1.
Trump has previously left open the possibility that attacks on Iran would resume after the Nov. 3 midterms. On Tuesday, Trump reiterated his claim that the war will end "whenever I want it to." Tehran, for its part, has said it is preparing a military response to any U.S. strikes.
A statement on Supreme Leader Mojtaba Khamenei's Telegram account said on Saturday that any level or type of threat must be met with an immediate, impactful and geographically unrestricted response.
Oil settles at highest levels since April
Attacks on shipping in the Strait of Hormuz continue. The United Kingdom Maritime Trade Operations Centre reported on Friday that a crude oil tanker was hit by an unknown projectile as it was heading out of the strait. Iran said four tankers struck mines in the strait, and Yemen's Houthis claimed missile strikes on Saudi Arabia.
Oil prices jumped more than 2% on Friday and settled at their highest levels since the end of April, as traders braced for a potential escalation. December Brent crude futures, which expired on Friday, settled up $2.76, or 2.4%, at $117.64 a barrel after touching a high of $118.
Source: CNBC
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