Iran's President Hassan Rouhani is heading to the United Nations General Assembly (UNGA) in New York, where he says he will reveal the details of his Gulf security proposal.
Tensions are high in the region after a series of attacks.
Most recently, Saudi Arabia's largest oil processing plants have been crippled by Houthi rebel attacks.
Saudi Arabia and the United States say Iran is to blame, and US reinforcements are being deployed to the region.
Iran denies involvement in the attacks and has denounced the presence of more foreign troops in the region.
Saudi Arabia may take several months to get their damaged oil facilities back online, according to a report by the Wall Street Journal.
It contradicts promises by Saudi oil executives of a speedy recovery taking no more than ten weeks. Aramco's CEO sought to reassure markets in a published letter in which he said the company is "stronger than ever".
Al Jazeera's Osama Bin Javaid joins us live on set.