Oil prices rise as Brent crude jumps 2.5% after Trump rejects Iran peace proposal, raising concerns over the Strait of Hormuz and global oil supply.
Open source ↗The market is still pricing some probability that everyone eventually finds their way back to the table, even if they continue to spend the next few weeks shouting across it first
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President Trump has rejected a ceasefire proposal with Iran, anticipating renewed military action post-midterms.
Open source ↗The latest rise in crude prices comes after a steep weekly decline. West Texas Intermediate crude fell 2.3% to settle at $92.41 a barrel, while Brent crude, the international benchmark, declined 2.1% to settle at $104.32 a barrel.
Open source ↗U.S. President Donald Trump has rejected an Iranian proposal aimed at reopening the Strait of Hormuz and restarting negotiations to end the ongoing conflict in the region. The proposal, presented through Qatari mediators during the UN General Assembly in New York, offered to reopen the strategic waterway and resume talks within seven days if Washington met Tehran’s conditions. Trump said the terms were unacceptable, while Iran’s Foreign Minister Abbas Araghchi said Tehran was still awaiting an o
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The foreign minister says Tehran is waiting for an official rejection of a deal, despite the US President's comments.
Open source ↗Iran announced a peace proposal at the United Nations General Assembly last week.
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U.S. President Donald Trump on Saturday (September 26, 2026) rejected a truce proposal put forward by Iran, which Tehran claimed would have allowed the reopening of the strategic Strait of Hormuz to commercial shipping within a week. The vital maritime passage, crucial to global energy security, remains at the centre of the military standoff between Washington and Tehran, which has reached a deadlock after nearly seven months of conflict.
Open source ↗Iran says diplomacy is the only way forward as Trump rejects Tehran's proposal linking the reopening of the Strait of Hormuz to US concessions, while tensions over nuclear policy and regional...
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