US President Trump is expected to meet Gulf leaders on the sidelines of the UN General Assembly in New York next Tuesday to discuss next steps in the war with Iran, according to Axios

Sideline diplomacy at the UN General Assembly is a familiar venue for testing de-escalation or coalition-building before anything formal is announced; in past episodes of this kind, such meetings have more often produced communiques and follow-up channels than immediate operational shifts, and markets have tended to fade headline risk premia once the encounter passes without escalation. The actors matter here: Gulf states have historically played intermediary and security-partner roles in US-Iran friction, and their inclusion signals the agenda is at least as much about regional burden-sharing and energy infrastructure security as about Washington-Tehran dynamics directly. The transmission channel to watch is crude: in comparable episodes, the Brent and WTI risk premium has tracked perceived threats to Gulf supply and shipping rather than diplomatic noise itself, with insurance and freight rates on Gulf routes the cleaner tell than the flat price. Gold and the yen have tended to retrace quickly when talks are framed as 'next steps' rather than ultimatums. What follows worth watching is whether the meeting produces a named framework or joint statement, whether Iran responds publicly, and any parallel movement in Gulf airspace or maritime security advisories. As an expected event sourced to a single report, the first risk is confirmation or denial ahead of the date.