Shafaqna English– Oil prices rose sharply on Monday(28 Sep 2026). They gained more than 1% in a single session. The trigger was political: President Donald Trump rejected a peace plan from Iran. That plan was meant to end the conflict between Washington and Tehran.
It was also meant to reopen the Strait of Hormuz. This waterway is a key route for global oil shipments. By saying no, Trump kept diplomatic channels closed. As a result, tensions in the Middle East remain high. Traders now worry more about possible supply cuts.
Price data told the same story. Brent crude futures rose $1.32, or 1.27%. They reached $105.64 a barrel by 0036 GMT. US West Texas Intermediate was at $93.11 a barrel. It gained 70 cents, or 0.76%. Brent’s larger gain shows it is more sensitive to Middle East supply risks. WTI’s smaller rise suggests a more limited impact on the US benchmark.
Source: Reuters