Reporting and perspectives on strait of hormuz.
The pipeline disruption comes as Gulf oil exports have already fallen sharply and shipping routes face further threats. With no restart date announced, the impact on deliveries to Europe and Asia depends on how long the shutdown lasts.
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Brent crude climbed above $108 a barrel on Monday morning after a merchant vessel was struck in the Strait of Hormuz, killing one crew member, and Saudi Arabia shut its main pipeline bypassing the waterway, renewing fears that Middle East supply routes are closing.
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Brent crude has shot up to above $100 a barrel after US forces destroyed five Iranian tankers and Tehran responded with missile strikes on Jordan, the latest escalation in the conflict that has kept the Strait of Hormuz largely shut since February.
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The talks follow the UAE's suspension of trade and financial dealings with Iran in August and follow the UAE's firm position that trust with Iran "is a mountain to climb" after Iran's attacks on the Gulf countries.
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Tehran accused the United States for the latest attack on an Iranian commercial ship near Qeshm, the largest island in the Strait of Hormuz, as the blows between US and Iran in the strait continue.
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