Saudi Arabia asks Oman to mediate two-week truce with Ansar Allah
An agreement could be announced by the end of the week, according to a report, as the Houthi movement's Red Sea campaign keeps Saudi oil exports disrupted.
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Saudi Arabia has asked Oman to mediate a two-week truce with Ansar Allah, the Houthi movement in Yemen, according to a report. During the truce, all humanitarian demands would be discussed, with an agreement expected by the end of the week, the report said.
The request runs alongside a separate track. US officials have been holding their own talks with Houthi representatives in Oman over attacks on Red Sea shipping. Diplomats met Houthi representatives in Oman over the weekend, and that channel has stayed open even as military buildup continues. In earlier contacts, the Houthis told US officials they would avoid attacking Israeli vessels, even as Saudi-led forces and Washington kept military options on the table.
China has pressed Iran to rein in the Houthis following a Saudi appeal, according to a report. Iran's security chief has said talks will not resume until its own demands are met. US Vice President Vance has described the conflict as entering a managed phase.
The East-West Pipeline, which normally carries 4 to 5 million barrels a day around the Strait of Hormuz, according to Reuters, has been offline since a September attack damaged two pump stations. Saudi Arabia is seeking to restore roughly half of that capacity within days, with full restoration expected in six weeks. On Tuesday, September 15, Brent crude rose 3.0% to $108.86 a barrel and WTI jumped 4.7% to $106.15, after loadings at Yanbu port were suspended.
A formal mediation request with an expected timeline marks incremental progress, but past ceasefires have collapsed before and the pipeline remains out of service, which limits how far the news can move prices. Oil markets have already priced in extended supply disruption and higher tanker costs, so a two-week truce announcement alone is unlikely to shift prices unless it includes verifiable commitments on infrastructure attacks and shipping lanes. Traders are likely to stay neutral until implementation details emerge.