News Made Clear · Loading…
Brent and US crude climbed on Monday after Donald Trump said he had rejected an Iranian proposal, though he expected further talks this week.
Review information is loading.
Brent crude futures rose 2.49% to $106.92 a barrel at 08:03 GMT on Monday, 28 September, while US West Texas Intermediate gained 2.25% to $94.49. Capital Economics economist Hamad Hussain told Reuters that prices appeared to have jumped in response to US President Donald Trump’s rejection of Iran’s proposal. [3]
Trump said on Saturday that he had rejected the plan. As described by Axios, Iran proposed reopening the Strait of Hormuz and restarting nuclear talks within a week if the US lifted its naval blockade, removed sanctions on oil sales and reinstated a ceasefire across the region. Trump told Axios on Sunday that he expected further talks this week. [2]
Iranian foreign minister Abbas Araghchi told NBC, in remarks reported by Axios, that Iran still wanted a diplomatic solution and was awaiting an official response through mediators. [2]
Preliminary Kpler figures cited by Reuters put September crude exports from key Middle Eastern producers at 12.8 million barrels a day, their highest since the war began in February. Kpler expected shipments through Hormuz to reach about 7.4 million barrels a day this month. [3]
5 listed sources · explore evidence, limitations and provenance.
Sign in to give this article a thumbs up or down.
Private test discussion. Comments are readers’ views and are not yet automatically fact-checked. Editing is available for 60 seconds after posting.
Sign in with a confirmed reader account and choose a username to read comments and participate.
Sorting applies to top-level comments; replies remain oldest first. New comments and likes can change the order. Refresh for the current ranking.
Loading comments…