Iran presented the proposal during the United Nations General Assembly, offering to reopen the strategic waterway and resume negotiations if the United States eased sanctions, released frozen Iranian assets and ended its naval blockade. Trump rejected the proposal but said he expected talks with Tehran to resume.
The Strait of Hormuz is a major route for global energy supplies, and continued disruption has raised concerns about shortages and inflation. The renewed oil-price increase also weighed on some global markets as investors assessed the impact of the Middle East conflict on the world economy.
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Oil prices climbed after US President Donald Trump rejected Iran’s seven-day truce proposal, renewing concerns over supplies through the Strait of Hormuz. Oil prices rose on Monday after US President Donald Trump rejected an Iranian proposal for a seven-day truce and the reopening of the Strait of Hormuz. Brent crude climbed above $106 a barrel, reversing part of...
Key takeaways
- Oil prices climbed after US President Donald Trump rejected Iran’s seven-day truce proposal, renewing concerns over supplies through the Strait of Hormuz.
- Oil prices rose on Monday after US President Donald Trump rejected an Iranian proposal for a seven-day truce and the reopening of the Strait of Hormuz.
- Brent crude climbed above $106 a barrel, reversing part of the decline recorded after news of Iran’s proposal emerged.Iran presented the proposal during the United Nations General Assembly, offering to reopen the strategic waterway and resume negotiations if the United States eased sanctions, released frozen Iranian assets and ended its naval blockade.
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What is this story about?
Oil prices climbed after US President Donald Trump rejected Iran’s seven-day truce proposal, renewing concerns over supplies through the Strait of Hormuz. Oil prices rose on Monday after US President Donald Trump rejected an Iranian proposal for a seven-day truce and the reopening of the Strait of Hormuz. Brent crude climbed above $106 a barrel, reversing part of...
Who published this story?
Glow 99.1 FM published this story with GlowRy Atuah listed as author.
When was it published?
September 28, 2026
