War returns to Iran with Israel, US strikes

Iran’s national security chief Mohsen Rezaei has discussed developments in the Middle East in a phone call with Russian President Vladimir Putin, as Iran says contacts over ending the war with the US continue, Reuters reports citing Tehran’s state media.

Oil prices have extended losses on hopes of new talks between the United States and Iran aimed at ending the Middle East conflict, according to AFP.

Crude futures, already down about four per cent earlier on the diplomatic prospects, dropped further as the trading day went on.

The main international contract, Brent North Sea crude, has shed 6.1pc to $106.54 a barrel, while the US benchmark West Texas Intermediate is down 6.3pc to $97.56.

French oil major TotalEnergies expects global oil demand to peak in the years between 2035 and 2040, with potential for demand to decline faster if sales of electric vehicles continue to grow, Reuters reports citing the company’s chief sustainability officer.

The company’s annual energy outlook report projects that global demand for petroleum products will increase and plateau during the 2030s before beginning a slow decline. Last year’s forecast had expected oil demand to rise until 2040 before declining gradually.

The report adds that the crisis in energy markets triggered by the US-Israeli war on Iran could, however, act as an “accelerator” of the energy transition, pointing to a sharp increase in EV sales in Asia, Latin America and Europe, and an increase in biofuel blending requirements influencing energy consumption patterns.

Chief sustainability officer Aurelien Hamelle tells reporters there has been a “stunning acceleration” of low-carbon technology between the second quarter of 2025 and the second quarter of 2026.

The Iranian foreign ministry’s spokesperson has affirmed that parliament speaker Mohammad Bagher Ghalibaf remains the top negotiator.

“Cohesion and harmony among high-level decision-making authorities are unprecedented,” he further said, according to IRIB.

The Iranian Navy claims that a tanker, which turned off its navigation systems, has struck a sea mine and caught fire in a “restricted, high-risk area” east of the Strait of Hormuz, state broadcaster Press TV reports.

Europe will not face a gas shortage this winter; it will simply be forced to pay more to ensure sufficient supply, Reuters reports quoting TotalEnergies Chief Executive Officer Patrick Pouyanne.

“The idea of a gas shortage is wrong,” Pouyanne tells a briefing on the company’s energy demand outlook, adding that Europe is only waking up to its gas storage needs after markets had bet on the Iran war ending in the summer.

The UAE’s energy minister said that what will happen in the US-Israeli war on Iran cannot be predicted, but the UAE will be more prepared than before, Reuters reports.

Suhail al-Mazrouei told Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) that at certain times his country’s exports were better than prior to the war.

Iranian Foreign Minister Abbas Araghchi has held talks with his Turkmen counterpart Rashid Meredov in Ashgabat, focusing on strengthening bilateral cooperation and reviewing regional and international developments, IRNA reports.

Araghchi met with Meredov, who also serves as Deputy Chairman of the Cabinet of Ministers of Turkmenistan, on Monday, during a one-day visit to the Central Asian country.

The two officials reviewed the latest developments in Tehran-Ashgabat relations and emphasised the need to capitalise on existing capacities to expand cooperation across various political and economic fields.

Meredov highlighted the historical ties between the two neighbouring countries, describing them as a solid foundation for further strengthening bilateral relations.

Former US president Bill Clinton has criticised the US attack on Iran, saying the rise in petrol prices is a direct consequence of a military operation that was not carefully planned.

He said wars should not be started without a clear plan to end the fighting and prevent further loss of life.

Clinton also criticised what he described as corruption and vanity projects in the Trump administration.

China’s top diplomat told a senior Iranian official that Beijing supports Tehran in “safeguarding its own sovereignty and security” as they met in the Chinese capital on Monday, after threats of renewed US strikes, AFP reports.

President Donald Trump said on Saturday that the United States has knocked out much of Iran’s military but still has to “take care of” one or two targets, as Tehran warned of reprisals if attacked.

“China supports Iran in safeguarding its own sovereignty and security,” Chinese Foreign Minister Wang Yi told Ali Bagheri Kani, the deputy secretary of Iran’s Supreme National Security Council, according to a statement from Beijing.

The foreign ministry had not previously announced the visit by Bagheri Kani to Beijing.

“All parties should… in a spirit of reason and pragmatism, focus on a political solution rather than once again resorting to armed conflict,” Wang told Bagheri Kani, according to the statement.

The UAE will protect its energy infrastructure and invest in new export routes, storage capacity abroad and shipping fleets to be better prepared for the US-Israeli war on Iran, its energy minister said, Reuters reports.

Minister Suhail al-Mazrouei said the course of the war could not be predicted, but the UAE would be more prepared than before.

The UAE has been exporting crude via Fujairah, which sits just outside the Strait of Hormuz. It is building a new pipeline to Fujairah that will double crude capacity by next year.

Kuwait raised its crude oil production to 2.1 million barrels per day in October, the highest level since the outbreak of the Iran war and a rise of over 300,000 bpd from September, a person with direct knowledge of the matter told Reuters.

The increase came despite a record number of attacks on shipping in the Strait of Hormuz, adding to signs that Gulf oil producers are maintaining or increasing output as they adapt to the disruption risks.

The person asked not to be named because they were not authorised to speak publicly about Kuwaiti production.

Oil fell more than 4 per cent as talks between Iranian and Qatari officials on a deal to end the US-Israeli war on Iran raised hopes that Middle East supply disruptions could ease, Reuters reports.

Iranian negotiators have left talks with Qatari mediators aimed at ending the war with the United States, and a draft proposal is being circulated with a follow-up meeting possible, an official briefed on the talks said on Monday.

“The new month brought with it renewed hopes of a breakthrough in the Iranian stalemate,” said Tamas Varga of oil broker PVM.

Brent crude futures fell $4.79, or 4.2pc, to $108.64 a barrel by 1020 GMT while US West Texas Intermediate crude traded at $99.71, down $4.41 or 4.2pc.

Iranian negotiators have left talks with Qatari mediators aimed at ending the war with the United States, ​and a draft proposal is being circulated with a follow-up meeting ‌possible, an official briefed on the talks said, Reuters reports.

The negotiators departed on Sunday, though not because of difficulties in the negotiations, the official said, without providing further details on the ​draft proposal.

Iran’s foreign ministry spokesperson said the basis of the talks is ​a seven-step plan Iran drew up in September to reopen the ⁠Strait of Hormuz and end the US naval blockade on Iran, with Tehran ​now suggesting that proposal could be implemented on a faster timeline under a deal.

Saudi Arabia briefly activated emergency alerts in the southwestern cities of Abha and Khamis Mushait and Taif in the country’s west before later announcing that the danger had passed in the three areas, Anadolu reports.

The warnings were issued through the National Early Warning Platform for Emergencies, according to separate statements by the Saudi Civil Defence.

It later announced that the danger had passed in Abha, Khamis Mushait and Taif, and urged residents to continue following Civil Defense instructions and avoid gathering or filming.

China’s Foreign Minister Wang Yi said that all parties in the Middle East conflict should focus on political solutions rather than resorting to arms again, in a meeting with an Iranian national security official in Beijing, Reuters reports.

Dialogue and negotiation are the way to resolve Middle East conflicts, Wang said to Ali Bagheri Kani, the deputy secretary of the Iran Supreme National Security Council, according to Chinese state new agency Xinhua.

Wang also said China supports Iran in safeguarding its sovereignty and security.

Iranian Foreign Ministry spokesperson Esmaeil Baqaei has said Iran will not transfer its 60 per cent enriched uranium to a third country, in response to a question on whether such a move was likely to reach an agreement and if the issue had been raised in the Doha talks, state broadcaster IRIB reports.

Iranian Foreign Minister Abbas Araghchi said Iran now expects Washington to lift the new sanctions imposed after the memorandum, scale back its military presence in the region to its previous level, end the blockade and implement the planned waivers on oil sanctions.

“There is nothing extraordinary about these conditions, and all of them are feasible if the US side demonstrates goodwill, has a genuine will to reach an agreement, and is truly seeking a peaceful solution,” Araghchi said.

He said the proposal could pave the way for peace, restore normal traffic through the Strait of Hormuz and help return life to normal in the region and beyond.

Araghchi said reopening the strategic waterway would be followed by negotiations on issues of mutual interest. Iran wants to negotiate the complete lifting of sanctions, while the United States is interested in discussing the nuclear issue, he added.

Foreign Minister Abbas Araghchi says Iran’s conditions for reopening the Strait of Hormuz are all feasible if the United States demonstrates goodwill, has a genuine willingness to reach an agreement, and truly seeks a peaceful solution.

In an interview with Al Jazeera, Araghchi said a proposal currently under discussion through Qatari and Pakistani mediation was based on Iran’s original seven-day plan, which Tehran presented during the UN General Assembly in New York in September.

Under the initial plan, the Strait of Hormuz would reopen on the sixth day if Iran’s conditions were met, and Iran-US negotiations would resume on the seventh day, according to Araghchi.

He said continued consultations among Iranian, Qatari, and Pakistani officials helped make the proposal more practical. A Qatari suggestion to shorten the seven-day timeline had led to a new two-day plan.

Iranian Foreign Ministry spokesperson Esmaeil Baqaei has said the country is documenting the US’s “gross violations” of international law, “but experience has shown international bodies are just talk, not action,” state broadcaster IRIB reports.

Iran’s Foreign Ministry spokesperson Esmaeil Baqaei has called the US the “biggest threat” to the Nuclear Non-Proliferation Treaty, according to state broadcaster IRIB.

“It has attacked Iran’s nuclear facilities, yet the International Atomic Energy Agency has taken no proper action to condemn it,” Baqaei said.

Iran’s foreign ministry said it was considering a two-day plan to reopen the Strait of Hormuz if the US agrees to its conditions, having previously proposed a one-week timeline, Reuters reports.

“The possibility of implementing this plan in two days is another indication of Iran’s good-faith approach. We have stated that, if Iran’s demands are met, it would be possible to restore security to the Strait of Hormuz and resume the negotiating process within a short period,” said foreign ministry spokesman Esmaeil Baqaei, adding that the “exchange of messages is still ongoing” via mediators.

The Middle East and Gulf region should not become a battleground for great-power rivalry and China is willing to work with Arab nations to achieve lasting peace, Chinese President Xi Jinping told Oman’s sultan, Reuters reports.

Xi told Omani Sultan Haitham bin Tariq al-Said that the world is undergoing profound changes.

“The Middle East Gulf region should not become an arena for great-power rivalry and geopolitical conflict. Peace and stability in the region require joint nurturing and protection by all parties,” Xi said, according to China’s Foreign Ministry.

China will send Zhai Jun, a special envoy to the Middle East, to Iran, Oman and Saudi Arabia in early and mid-November, Chinese foreign ministry spokesperson Mao Ning said, according to Reuters.

Saudi Arabia’s civil defence authority on Monday said the threat had passed shortly after issuing alerts for the southern and western cities of Khamis Mushait, Abha, Taif and Najran, amid weeks of escalating hostilities with Yemen’s Houthis, Reuters reports.

The Saudi-led coalition in Yemen later said it had intercepted and destroyed a ballistic missile launched by the Iran-aligned Houthis towards the southern region of Saudi Arabia.

Southern Saudi Arabia, which borders Yemen, has come under repeated Houthi missile and drone attacks targeting military installations and energy infrastructure, including Jazan, home to a 400,000-barrel-per-day oil refinery on the Red Sea coast.