Brent Surges as US-Iran Talks Hit Setback

2026-09-28 10:37 By Agna Gabriel 1 min. read

Brent crude rose above $106 a barrel on Monday, recovering from a 2.1% decline in the previous session as uncertainty surrounding US-Iran diplomacy kept supply risks elevated.

Tehran continues to support a proposal that US President Donald Trump has rejected, calling for the lifting of a US naval blockade and oil sanctions as conditions for reopening the Strait of Hormuz.

Iranian Foreign Minister Abbas Araghchi said these requirements were longstanding and that Washington would need to make concessions.

However, Trump said talks could resume this week.

Oil markets have remained volatile as hopes for progress repeatedly give way to renewed uncertainty during the conflict’s eighth month.

Regional tensions also persisted, with Saudi-led coalition forces reporting the interception of Houthi drones heading toward Riyadh and a missile aimed at Khamis Mushait, while alerts were issued around Abha and Jazan, where Aramco facilities are located.



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