Oil Climbs After Trump Rejects Iran's Truce Proposal -- Market Talk
Dow Jones2026/09/28 07:320732 GMT - Oil prices climb more than 2% after President Trump rejected Iran's truce proposal, keeping the geopolitical risk premium elevated. In early European trading, the front-month Brent crude contract, which expires on Tuesday, is up 2.8% at $107.15 a barrel, while the second-month contract trades at $99.15 a barrel. The U.S. oil gauge WTI rises 2% to $94.21 a barrel. "Rejection of a settlement supports prices because disruption risk remains unresolved, while evidence that significant volumes are still moving prevents the market from pricing a complete supply shutdown," says Naeem Aslam from Zaye Capital Markets. The diplomatic path toward reopening the Strait of Hormuz and resuming discussions over Iran's nuclear program remains highly uncertain. Meanwhile, tightening physical-market conditions are intensifying inflation risks and reviving debate over potential export curbs. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
September 28, 2026 03:32 ET (07:32 GMT)
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