Senior Emerati Official Gargash says UAE could play a role, with other countries, in ensuring the safety and security of the Strait of Hormuz

• UAE could take part in international effort led by the US.
• We do not have active talks with Iran right now.

The remarks from the Emirati official suggest a potential escalation in geopolitical collaboration concerning the Strait of Hormuz, a crucial oil shipping route. The UAE's willingness to engage in international security efforts, especially alongside the U.S., could affect market sentiments around oil prices and regional stability. However, the lack of active dialogue with Iran indicates ongoing tensions that may offset any positive sentiment from the UAE's stance.