3 stories since 27 October 2026, newest first
Brent crude fell to 114.40 dollars a barrel in early Asian trading, after gaining more than 1 percent the previous session. US WTI crude dropped 1 percent to 102 dollars a barrel. Iranian Foreign Minister Abbas Araghchi said Tehran remained open to negotiations. Qatari mediators presented Iran with a new draft proposal to end the war, which a senior Iranian official rejected, according to an official briefed on the talks.
Iran has turned down the latest draft proposal presented by Qatari mediators, saying it cannot compromise on its nuclear programme. The rejection follows a senior Iranian official’s statement that the draft’s terms are unacceptable and that Tehran will not lift its nuclear stance. The proposal, which envisions reopening the Strait of Hormuz after a seven‑day confidence‑building plan, was also dismissed by U.S. President Donald Trump. The war, now eight months old, has driven global oil prices higher and cost the U.S. military at least $47.1 billion.
Officials from Saudi Arabia, Pakistan, Turkey and Iran ended a day of talks in Tehran on 26 Oct without a deal, according to sources briefed on the discussions. The parties agreed to keep talking on regional peace and security. Saudi Defence Minister Prince Khalid bin Salman led the delegation from the three Mecca pact states, with Pakistan's army chief Field Marshal Asim Munir and Turkish intelligence chief Ibrahim Kalin attending. Iran was represented by Foreign Minister Abbas Araghchi and Supreme National Security Council Secretary Mohsen Rezaei. Hours after the talks concluded, the Saudi-led coalition intercepted three ballistic missiles and four drones launched by the Houthis toward Saudi Arabia. The meeting took place during the Israeli-US war with Iran, which began on 28 Feb.