Iran-Oman Talks Enter Final Stage as Oil Falls | Horizons Middle East & Africa 8/3/2026
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Global markets are closely watching renewed diplomatic efforts after President Trump said he will see if a deal can be reached with Iran, adding that he called off what he described as the "biggest attack since World War II." Oil prices fell as optimism over a potential US-Iran agreement grew, while Iran's foreign minister said negotiations with Oman are in their final stages. Gulf producers continue exploring alternative oil export routes as concerns over the Strait of Hormuz persist, and OPEC+ approved a modest production quota increase. In currency markets, the Japanese yen strengthened sharply as traders increased bets on further intervention, with US and Japanese officials signaling they would not hesitate to act again if needed. Kevin Warsh also hinted at a new inflation roadmap as investors continued to assess the outlook for US monetary policy. Technology shares remained volatile as the recent chip rally reversed, while DeepSeek unveiled its V4-Flash AI model. We also cover Ast
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