Iran and Qatar are reconciling, oil prices are falling

Oil prices dropped significantly due to rising market expectations for a resolution to the Middle Eastern conflict. The Brent crude oil price fell by $3.44 to $109.99 per barrel. This decline followed discussions between Iranian and Qatari representatives aimed at a peaceful settlement, with Qatar proposing a seven-day implementation plan. U.S. officials, including Vice President J.D. Vance and Secretary of State Marco Rubio, expressed a preference for diplomatic solutions over military confrontation. Meanwhile, two missiles struck a tanker in the Persian Gulf, with no injuries reported, and the Iranian Revolutionary Guard reported two oil tankers hit mines in the Strait of Hormuz.