# Oil Prices Rise After Trump Rejects Iran’s Hormuz Proposal

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/24660
Published: 2026-09-28T00:04:48.000Z
Updated: 2026-09-28T00:04:48.000Z
Section: Investing

> WTI rose 1.3% to $93.62 a barrel, while Brent gained 1.8% to $106.31 as tensions threatened a key global shipping route.

Oil prices climbed more than 1% in early Asia trading Monday after President Donald Trump rejected Iran’s conditional proposal to reopen the Strait of Hormuz, adding pressure to markets already facing higher geopolitical risks.

November WTI climbed 1.3% to $93.62 per barrel. Brent crude, the international benchmark, gained 1.8% to $106.31 a barrel.

Iranian Foreign Minister Abbas Araghchi offered Friday to reopen the strategic shipping route and restart nuclear negotiations with Washington within seven days if the Trump administration met Tehran’s conditions. Those demands included ending what Iran calls U.S. aggression, lifting the naval blockade and releasing Iranian assets.

Trump confirmed that he rejected the proposal. The Strait of Hormuz is a major route for global oil shipments, making any disruption a direct risk to energy prices and inflation.

The conflict began with U.S. and Israeli airstrikes on Iran on Feb. 28. Iran’s offer ties the waterway’s reopening to broader diplomatic and military conditions, leaving the route at the center of the latest market reaction.