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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
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U.S. President Donald Trump on Sept. 26 said he has rejected Iran’s latest proposal for an end to the conflict.
“I rejected their deal,” he told reporters at the White House.
The Iranians made the proposal on the sidelines of the U.N. General Assembly meeting in New York earlier in the week through Qatari mediators.
“They want to make a deal where they open the Strait immediately because they’re losing so badly,” Trump said. “Massive amounts of oil are coming out of the Hormuz Strait. Last night, we had 29 ships come out.”
Both sides want to end hostilities, and reopen the Strait of Hormuz, but are at loggerheads over how to handle Iran’s nuclear stockpile.
“They want to make a deal and I think that’s fine. I like making a deal too,” Trump said.
After Trump’s rejection, Iran said that only diplomacy can solve its conflict with the United States and Israel.
“Our conditions are clear, and any move toward reopening the Strait of Hormuz is contingent on these conditions being met,” Iranian Foreign Minister Abbas Araghchi posted on social media. “Only a negotiated solution can get them out of this deadlock.”
Both sides had agreed as such in a June 17 memorandum of understanding, outlining a 60-day period to negotiate the final details for peace.
The United States agreed to end its naval blockade, while Iran agreed to ensure the safe passage of vessels navigating the Strait of Hormuz. Iran also agreed not to develop or procure a nuclear weapon in exchange for the end of U.S. sanctions. However, there was no agreement reached on the details of how to handle Iran’s existing nuclear stockpile.
That memorandum of understanding expired in mid-August. Talks have stalled since over what will happen to Iran’s existing stockpile of highly enriched uranium.
The United States is asking for the complete destruction or disposal of the enriched stockpile. Iran maintains it has a right to develop nuclear technology for peaceful purposes under the nuclear Non-Proliferation Treaty. U.N. inspectors have long said they have been denied access by Tehran to its nuclear facilities.
That was still across the red line for the United States. In his speech to the United Nations on Sept. 22, Trump said that he expects a deal to be reached with Iran shortly after the upcoming midterm election.
He said it was a big decision that would determine if the regime in Tehran would be allowed to rebuild Iran, or be annihilated with “no chance of survival.”
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Trump rejects Iran deal to reopen Strait of Hormuz in seven days
- Published
US President Donald Trump has rejected an Iranian proposal to reopen the Strait of Hormuz to commercial shipping within a week.
He told reporters at the White House that Tehran "want to make a deal where they open the Strait immediately because they're losing so badly".
In a post on Telegram, Iran's Foreign Minister Abbas Araghchi acknowledged Trump's comments, but said Tehran would wait for an official response from mediators.
On Friday, Araghchi had told reporters at the UN in New York that an agreement could be reached "if the necessary conditions are met" and that these were contained in a memorandum of understanding (MOU) signed by the two countries in June.
The vital waterway through which around a fifth of the world's gas and oil supply usually flows has been effectively closed since the outbreak of war in February.
"I'm rejecting their deal," Trump said on Saturday, adding that the US already had "total control" of the strait, with "massive amounts of oil" passing through it.
"They want to make a deal, and I think that's fine. I like making a deal, too. But that deal would not be acceptable," he added.
Araghchi wrote that Trump "has made many good statements, as well as many contradictory ones, which unfortunately we hear frequently."
He added that he would await the "definitive views" of mediators, and that Tehran "will make a decision based on that."
On Friday the Wall Street Journal, external cited officials as saying Trump was sceptical that Iran would meet his demands and had told his staff that he saw a renewed bombing campaign as probable.
Iran responded to US and Israeli air strikes, beginning in late February, by attacking Israel and US bases in the Gulf and Arab Gulf allies of the US - as well as blocking the Strait of Hormuz. Its closure has caused wild fluctuations of energy prices.
The economic effects have also increased pressure on Trump to find a way of ending the conflict - particularly as the US heads towards Congressional elections in November.
Araghchi told reporters on Friday: "If the necessary conditions are met, the strait can be reopened, a normal maritime passage restored within seven days,"
He added that "the actions that the United States should take are not new. They are all already in the MOU... The choice now rests with the United States."
Iranian President Masoud Pezeshkian, meanwhile, told CBS News, the BBC's US partner: "We had previously reached an agreement based on the MOU that was signed in Pakistan... if the United States agrees to proceed in that way, everything will return to the way it was before."
But Kirsten Fontenrose, who served on the National Security Council during the first Trump administration, told the BBC there was no appetite for restarting the conversation around the MOU as it is seen as a bad deal in the US and Iran was "pushing against a very closed door".
The MOU was designed to bring about a ceasefire and at least partly reopen the Strait of Hormuz.
The 14-point agreement said Iran would never have a nuclear weapon. It noted that the US, Iran and their allies would end military operations on "all fronts" and contained provisions including ending a US naval blockade and other sanctions.
But the deal fell apart after both sides resumed strikes. Iran has attacked vessels it says have attempted to cross the strait without authorisation.
The US has attacked Iranian sites in the strait - as well as Iranian tankers off the country's coast. It has also maintained a blockade of Iranian ports, causing huge disruption to the Iranian economy.
Trump has since claimed the US has been successful in getting oil out through the Strait of Hormuz.
Shipping data shows a recent 10-day average of about 18 transits per day, with numbers dropping as low as nine vessels on certain days, according to Kpler, a commodities analytics firm cited by Reuters.
The situation has been exacerbated by Houthi attacks on Saudi oil installations.
Yemen's Houthis - allied to Iran - have recently intensified attacks aimed at disrupting Saudi oil exports via the Red Sea, on the other side of the Arabian peninsula to the Strait of Hormuz.
The group seized strategic stretches of Yemen's Red Sea coast this month, including the port of Mokha, which overlooks the Bab al-Mandab Strait, another chokepoint for global shipping.
On Saturday, the Saudi-led coalition in Yemen said it had intercepted two ballistic missiles and drones launched by the Houthis towards Saudi Arabia. US media report Saudi leadership has requested military support from Trump.
The US president told the UN General Assembly this week that he believed a deal with Iran would come after November's elections, while pondering whether he "annihilate the Islamic Republic" to rebuild it "quickly".
Araghchi said on Friday that "peace cannot be built through threats of annihilation".
- Published11 September
- Published3 days ago
- Published18 June
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US Senate rejects Democratic-led resolution to curb Trump's Iran war powers
By Patricia Zengerle
WASHINGTON, Sept 24 (Reuters) - The US Senate on Thursday narrowly rejected a resolution demanding President Donald Trump end the war in Iran or seek congressional authorization, as Democrats sought to put Republicans on the defensive over the unpopular conflict before November's midterm elections.
With polls showing Trump's Republicans struggling to keep their slim congressional majorities on November 3, more of them have been edging away from the war, which has pushed up food and fuel prices.
However, Thursday's Senate vote was 50-49 against the resolution, largely along party lines. Four Republicans — Senators Susan Collins of Maine, Rand Paul of Kentucky, Thom Tillis of North Carolina and Lisa Murkowski of Alaska — voted in favor.
Tillis, who is leaving the Senate in January, was the only Republican to vote in favor of a war powers resolution for the first time. Republicans in competitive reelection races, including Jon Husted of Ohio, Dan Sullivan of Alaska, Roger Marshall of Kansas, Pete Ricketts of Nebraska and DarlineGraham of South Carolina stuck with Trump.
One Democrat, John Fetterman of Pennsylvania, voted against the resolution, which passed the House of Representatives in July.
The vote was largely symbolic. The Trump administration has not changed policy in response to previous war powers votes. Thursday's vote took place two days after Trump threatened that he could "annihilate the Islamic Republic" in a UN speech.
Democrats see the votes as a way to put Republicans on the record on a conflict that has become increasingly unpopular with voters. Only 34% of respondents in a Reuters/Ipsos poll this week said they approved of the strikes on Iran.
The Senate has considered Iran war powers resolutions 14 times — voting in favor only twice — since US and Israeli forces began bombing Iran on February 28. The House has held six votes, with three in favor of ending the conflict.
Only one has passed both the House and Senate, and the White House ignored the result.
The US Constitution says that only Congress, not the president, can declare war, and Democrats have argued that Trump may have pulled the country into a long conflict by failing to spell out a clear strategy.
Republicans say Trump's actions are within his rights as commander-in-chief.
SHIFTS IN TIGHT RACES
A small number of Republicans have, however, broken ranks on the war.
In the House, seven Republicans voted with Democrats to pass a war powers resolution last week. Three of the seven — Zach Nunn and Mariannette Miller-Meeks of Iowa and Nancy Mace of South Carolina — voted against party leaders on the issue for the first time.
Nunn and Miller-Meeks face competitive reelection races in November, when all 435 House seats and 35 of 100 Senate seats are up for grabs. Mace is not seeking reelection after a failed campaign for South Carolina's governor.
And two Republican Senate candidates called on Monday for a swift end to the war, the latest sign that vulnerable candidates are trying to put some distance betweenthemselves and Trump.
Both Mike Rogers in Michigan and Ashley Hinsonin Iowa had previously backed Trump's authority to strike Tehran.
Representative Hakeem Jeffries of New York, the House's Democratic leader, suggested Republicans were calling for an end to the war only because they face tough races.
"It's interesting to me that several of them who are in tight races and on the verge of losing, including in places like Iowa or Michigan or Wisconsin, are all now starting to say the war needs to end,"Jeffries told a news conference on Wednesday.
(Reporting by Patricia Zengerle; editing by Andy Sullivan, David Gregorio and Sanjeev Miglani)
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US Senate rejects Democratic-led resolution to curb Trump's Iran war powers
By Patricia Zengerle
WASHINGTON, Sept 24 (Reuters) - The US Senate on Thursday narrowly rejected a resolution demanding President Donald Trump end the war in Iran or seek congressional authorization, as Democrats sought to put Republicans on the defensive over the unpopular conflict before November's midterm elections.
With polls showing Trump's Republicans struggling to keep their slim congressional majorities on November 3, more of them have been edging away from the war, which has pushed up food and fuel prices.
However, Thursday's Senate vote was 50-49 against the resolution, largely along party lines. Four Republicans — Senators Susan Collins of Maine, Rand Paul of Kentucky, Thom Tillis of North Carolina and Lisa Murkowski of Alaska — voted in favor.
Tillis, who is leaving the Senate in January, was the only Republican to vote in favor of a war powers resolution for the first time. Republicans in competitive reelection races, including Jon Husted of Ohio, Dan Sullivan of Alaska, Roger Marshall of Kansas, Pete Ricketts of Nebraska and DarlineGraham of South Carolina stuck with Trump.
One Democrat, John Fetterman of Pennsylvania, voted against the resolution, which passed the House of Representatives in July.
The vote was largely symbolic. The Trump administration has not changed policy in response to previous war powers votes. Thursday's vote took place two days after Trump threatened that he could "annihilate the Islamic Republic" in a UN speech.
Democrats see the votes as a way to put Republicans on the record on a conflict that has become increasingly unpopular with voters. Only 34% of respondents in a Reuters/Ipsos poll this week said they approved of the strikes on Iran.
The Senate has considered Iran war powers resolutions 14 times — voting in favor only twice — since US and Israeli forces began bombing Iran on February 28. The House has held six votes, with three in favor of ending the conflict.
Only one has passed both the House and Senate, and the White House ignored the result.
The US Constitution says that only Congress, not the president, can declare war, and Democrats have argued that Trump may have pulled the country into a long conflict by failing to spell out a clear strategy.
Republicans say Trump's actions are within his rights as commander-in-chief.
SHIFTS IN TIGHT RACES
A small number of Republicans have, however, broken ranks on the war.
In the House, seven Republicans voted with Democrats to pass a war powers resolution last week. Three of the seven — Zach Nunn and Mariannette Miller-Meeks of Iowa and Nancy Mace of South Carolina — voted against party leaders on the issue for the first time.
Nunn and Miller-Meeks face competitive reelection races in November, when all 435 House seats and 35 of 100 Senate seats are up for grabs. Mace is not seeking reelection after a failed campaign for South Carolina's governor.
And two Republican Senate candidates called on Monday for a swift end to the war, the latest sign that vulnerable candidates are trying to put some distance betweenthemselves and Trump.
Both Mike Rogers in Michigan and Ashley Hinsonin Iowa had previously backed Trump's authority to strike Tehran.
Representative Hakeem Jeffries of New York, the House's Democratic leader, suggested Republicans were calling for an end to the war only because they face tough races.
"It's interesting to me that several of them who are in tight races and on the verge of losing, including in places like Iowa or Michigan or Wisconsin, are all now starting to say the war needs to end,"Jeffries told a news conference on Wednesday.
(Reporting by Patricia Zengerle; editing by Andy Sullivan, David Gregorio and Sanjeev Miglani)
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The U.S. And Iran Are Reportedly Discussing a Deal To Reopen The Hormuz Strait. Oil Is Climbing Anyway.
Tehran said it can fully reopen the waterway in seven days if its conditions are met.
The U.S. and Iran are discussing a deal to end hostilities and gradually reopen the Strait of Hormuz, according to a new report.
However, the talks still face challenges because neither side wants to take the first step, Reuters detailed, citing a source familiar with the conversation.
An Iranian official said a way out would be them taking partial steps, with Iran allowing unrestricted traffic to resume while the U.S. lifts its blockade of the country's ports and allows Tehran to access frozen assets.
Oil prices are soaring despite the report. Brent crude, the international benchmark, climbed more than 4% and topped $107.5 at 3:21 a.m. ET, while West Texas Intermediate, the U.S. benchmark, gained 3.37% and stood above $95 at the same time.
Iran has said it can reopen the Strait of Hormuz in a matter of seven days if it reaches a deal with Washington.
The countries have held talks on the sidelines of the United Nations General Assembly, with President Donald Trump calling it "productive." "I think there's a lot of momentum for them to make a deal. That's what we are hearing from everybody," he added.
Secretary of State of State Marco Rubioalso claimed that discussions were positive, but were not a major breakthrough, adding that the Iranian Revolutionary Guard Corps is an impediment to any deal.
Both parties have also doubled down on threats at the same time.
Iran said President Donald Trump's most recent threats against the country if a deal to end the war is not reached soon are a sign of "strategic desperation."
Iran's General Staff said on Wednesday that "such words demonstrate America's strategic dead end in its aggression against the Iranian nation, and the repetition of baseless claims and threats, given the exhaustion of the U.S. military, is not a sign of power but a sign of their strategic desperation."
In a statement published in the country's semi-official news agency Merh, the force added that the threats are also a tool for domestic propaganda rather than something based on realities on the ground.
Paraphrasing the statement, the outlet also noted that Iranian forces believe Trump's threat do not "change power calculations and will never compensate for America's diminished position in the new global order or its humiliating defeats in the war against Iran and the Resistance Front."
Iranian President Masoud Pezeshkian also challenged the U.S. during his address to the UNGA, saying the country "seeks no one's permission to defend itself."
During his address, Pezeshkian also claimed the country is not looking to obtain nuclear weapons and framed the country's actions during the war as defensive.
"We only seek to live independently," the president claimed. "We need strength to be able to defend ourselves" and "don't seek anyone's permission to defend our country."
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