Qatari Mediators Hold More Than 12 Hours of Iran Talks as Brent Gains 2.4%

Qatari mediators met Iranian officials in Tehran for more than 12 hours Friday in an effort to revive direct U.S.-Iran talks and prevent a possible resumption of U.S.-led attacks after Nov. 3.

U.S. officials have warned allies to prepare for possible renewed strikes following the midterm elections. U.S. President Donald Trump has not announced a final decision. Trump said Tuesday that a proper end to the conflict would require Iran to state that it would never have a nuclear weapon.

Qatar’s Sunday visit to Tehran was followed by Monday meetings in which Iranian leaders met officials from Saudi Arabia, Turkey and Pakistan. Those contacts formed part of regional diplomacy in Tehran.

The fighting began Feb. 28 with U.S. and Israeli strikes on Iranian targets. A preliminary U.S.-Iran agreement to halt the fighting was signed June 17 but collapsed weeks later. The last confirmed U.S. strikes on Iran took place Sept. 1.

Oil traders weighed the risk of further escalation. The December Brent contract, which expired Friday, rose $2.76, or 2.4%, to settle at $117.64 a barrel after reaching $118. Brent settled at its highest level since late April. The more-active January contract gained $2.63 to end at $113.43. The U.S. midterm elections are scheduled for Nov. 3.