Qatar’s foreign ministry announced that its forces shot down an Iranian aircraft involved in « aggression, » marking a significant escalation in regional tensions. This incident occurs within the broader context of the Iran-Israel-US conflict, highlighting the volatility of the situation in the Gulf, particularly around the Strait of Hormuz. Negotiations between Iran and Oman regarding a Hormuz Management Agreement could be jeopardized by this direct military escalation. Markets responded to the deterioration: the odds of an agreement before August 31 dropped from 57% to 34.5%. The coming days will be critical, with key actors closely monitoring official statements to assess how the situation will evolve.
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