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Surging oil prices drag US futures lower as Trump rejects Iranian proposal to open Strait of Hormuz
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- Sep 28, 2026, 12:06 PM UTC
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Strait between the Persian Gulf and Gulf of Oman
The Strait of Hormuz is a waterway between the Persian Gulf and the Gulf of Oman. On the north coast lies Iran, and on the south coast lies the Musandam Peninsula under the Musandam Governorate of Oman, with a portion of the southwest of the peninsula under the United Arab Emirates (UAE). The strait is about 104 miles long, with a width varying from about 60 mi to 24 mi.
More on Wikipedia ↗President of the United States (2017–2021; since 2025)
Donald John Trump is an American politician, media personality, and businessman who is the 47th president of the United States. A member of the Republican Party, he served as the 45th president from 2017 to 2021.
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Yields in the U.S. bond market again touched their highest levels in roughly two decades and knocked U.S. stocks further from their record high. The S&P 500 fell 0.8% Monday.
Yields in U.S. bond market again reached highest levels in roughly two decades.
U.S. futures are falling as oil prices surge following President Donald Trump’s rejection of Iran’s proposal to reopen the Strait of Hormuz. Iran had offered to reopen the strait and