US President Donald Trump said on Monday that Iran wanted to reach a deal with Washington, signaling a possible diplomatic opening as fighting across the Middle East widened and threatened global oil supplies.
"The failing Nation of Iran wants to make a deal, quickly and badly. I will determine whether or not the USA will choose to engage - The concept of which we are open to," Trump wrote on Truth Social.
He made his comments came after Gulf Arab states postponed a planned meeting with Iran and as the Houthis have made rapid advances in Yemen, including the capture of Mayyun Island at the mouth of the Red Sea on Friday.
Crude oil prices rose more than 4% on Monday when the market reopened after the weekend's developments, before paring some gains during US morning trade.
The politically sensitive average retail price of diesel in the United States hit a new all-time high above $6.23 a gallon.
Oman had been due to host a meeting on Monday with Iran and Gulf states to discuss negotiations aimed at reopening Hormuz, the world's most important oil shipping lane, largely closed since the US and Israel attacked Iran at the end of February.
But Oman's Foreign Minister Badr Albusaidi announced overnight that the meeting had been postponed.
Iran meanwhile published a list of 77 ships it said had violated its operating protocols in Hormuz and warned they could face fines, detention or confiscation on future transits.
US Energy Secretary Chris Wright said on Monday the average number of ships crossing the strait covertly with US support was increasing. But independent monitors have suggested oil flows could have dropped off this month since fighting intensified again after a quiet August.
Trump, who attended a golf tournament at one of his resorts in Ireland, said over the weekend he expected the Iran war to end shortly after November's US midterm elections, after which oil prices would "drop like a rock".