The presidents of Russia and Iran, Vladimir Putin and Hassan Rouhani, will meet in Yerevan on Tuesday to discuss the situation in the Strait of Hormuz.
BP (BP.L) has not taken any of its oil tankers through the Strait of Hormuz since a July 10 attempt by Iran to seize one of its vessels
U.S. Secretary of State Mike Pompeo has said he was willing to go to Iran for talks amid tensions between Tehran and Washington.
Brian Hook, the US special representative on Iran, told reporters on Friday that Iran’s use of surrogates to attack Saudi Arabia and destabilize the region needs to be countered.
Tepid growth in demand for oil along with ample supplies from non-OPEC countries will complicate efforts.
Iran said on Friday it was responsible for maintaining the security of the Strait of Hormuz in the Gulf, state radio reported.
Iran test-fired a short-range anti-ship missile in the Strait of Hormuz during naval drills last week.
The United States believes Iran has started carrying out naval exercises in the Gulf.