Iranian representatives have continued negotiations in Doha as Qatar attempts to mediate an agreement that could ease the eight-month conflict involving Iran, the United States and Israel.

The negotiations entered a third consecutive day on Sunday, according to a person briefed on the discussions. At the centre of the talks is a proposal that could allow the Strait of Hormuz to reopen within two days of an agreement being reached.

The strait is one of the world’s most strategically important shipping passages, particularly for oil and liquefied natural gas. Restrictions on maritime traffic have disrupted energy markets, complicated shipping operations and increased costs for businesses dependent on supplies moving through the Gulf.

Iranian Foreign Minister Abbas Araqchi described the negotiations as “ongoing and progressing,” while maintaining that Iran was prepared for both diplomacy and defence.

United States Secretary of State Marco Rubio has said President Donald Trump would prefer a diplomatic resolution. However, the US administration has not publicly confirmed that it will accept Iran’s latest proposal.

The talks have also been complicated by another maritime security incident. Qatar Gas Transport Company said its LNG carrier Al Mayeda was struck by unidentified objects while travelling through Gulf waters. The vessel was reportedly able to continue its journey, and no crew casualties or environmental damage were reported.

The incident illustrates the risks facing commercial shipping while negotiations continue. Even a limited attack or navigational disruption can affect insurance premiums, shipping schedules and global energy prices.

The timing of any agreement may also be politically important. Trump has said there will be no new US attacks before the November 3 midterm elections, although he has not ruled out military action after voting concludes.

No final agreement has been announced. The diplomatic discussions nevertheless represent one of the clearest recent attempts to reduce tensions and restore more regular shipping through the Strait of Hormuz.