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Oil Rebounds Above US$105 As US-Iran Talks Stall
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- Sep 28, 2026, 2:59 AM UTC
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Oil prices climbed 2% as Trump rejected an Iran peace deal and Middle East exports rebounded, raising Brent to a two-week high. Market reacts to new uncertainty.
Brent crude opened the week above $105 per barrel as US-Iran negotiations stalled over maritime access. Trump rejected Tehran's seven-day truce plan tied to reopening the Strait of Hormuz, while CENTCOM redirected 122 vessels and 80 countries urged immediate restoration of commercial transit.
Global oil markets regained momentum on Monday as uncertainty surrounding the US-Iran conflict and the future of the Strait of Hormuz continued to keep traders on edge.