Brent Rises as US Rejects Iran Proposal

2026-09-27 23:24 By Jam Kaimo Samonte 1 min. read

Brent crude climbed above $106 per barrel on Monday, recovering losses from the previous session after President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, raising concerns that the restoration of oil flows through the critical waterway could face further delays.

Trump also said Tehran had overplayed its hand and expects negotiations to resume this week.

Meanwhile, Iran said it is waiting for a definitive US response to its seven-day proposal to reopen the strait and other demands, adding that it will not ease its conditions after Trump rejected Tehran’s latest plan.

Elsewhere in the Middle East, tensions remain high as Saudi Arabia intercepted Houthi drones heading toward Riyadh, along with a missile targeting Khamis Mushait in the south.

Alerts were also issued in Abha and Jazan, where Aramco operates energy facilities.

In the US, Trump is considering a ban on diesel exports as part of efforts to address elevated fuel prices.



News Stream
Brent Rises as US Rejects Iran Proposal
Brent crude climbed above $106 per barrel on Monday, recovering losses from the previous session after President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, raising concerns that the restoration of oil flows through the critical waterway could face further delays. Trump also said Tehran had overplayed its hand and expects negotiations to resume this week. Meanwhile, Iran said it is waiting for a definitive US response to its seven-day proposal to reopen the strait and other demands, adding that it will not ease its conditions after Trump rejected Tehran’s latest plan. Elsewhere in the Middle East, tensions remain high as Saudi Arabia intercepted Houthi drones heading toward Riyadh, along with a missile targeting Khamis Mushait in the south. Alerts were also issued in Abha and Jazan, where Aramco operates energy facilities. In the US, Trump is considering a ban on diesel exports as part of efforts to address elevated fuel prices.
2026-09-27
Brent Nears $104 on Hopes Over US-Iran Talks
Brent crude eased to around $104.5 a barrel on Friday after Iran called on the US to return to an interim peace deal that failed to end the war over the summer. The agreement would resemble the memorandum of understanding reached by the US and Iran in mid-June, which led to a fragile ceasefire that collapsed weeks later. Iran’s foreign minister proposed reopening the Strait of Hormuz and resuming nuclear talks with the US within seven days if the Trump administration accepts its conditions, including lifting the naval blockade, unfreezing Iranian assets, and ending the war “on all fronts.” Oil flows through Hormuz reached 33.7 million barrels this week, putting exports roughly on track with the previous week’s levels. Oil markets have remained volatile this week amid mixed signals over peace prospects, signs of recovering Middle East energy flows, and speculation that the US could restrict diesel exports. Brent crude remained more than 1% higher for the week.
2026-09-25
Brent Crude Pares Losses
Brent crude pared earlier losses to trade around $106 a barrel on Friday as investors remained cautious over the prospects for a US-Iran agreement, given that previous negotiations have repeatedly appeared close to a breakthrough before collapsing. US and Iranian negotiators have been exploring a phased arrangement that could reopen the Strait of Hormuz, potentially involving Tehran restoring access through the strategic waterway while Washington lifts its blockade of Iranian ports. However, a White House official said President Donald Trump remained open to talks but maintained that the US was under no pressure to negotiate, citing the strength of its sanctions campaign and blockade. Brent crude remained more than 2% higher for the week, reflecting continued supply concerns linked to the conflict.
2026-09-25