https://www.live-feeds.com/feed/brent-gains-2-7-as-trump-rejects-iranian-proposal-to-reopen-hormuz-straitContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/brent-gains-2-7-as-trump-rejects-iranian-proposal-to-reopen-hormuz-straithttps://www.live-feeds.com/feed/brent-gains-2-7-as-trump-rejects-iranian-proposal-to-reopen-hormuz-strait#u93864Fri, 02 Oct 2026 00:04:41 +0000Oil prices rose after US President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz. Brent crude futures climbed 2.7% to over $107 a barrel. The rejection stoked concerns about prolonged supply disruptions and higher fuel costs. Iran had offered a seven-day truce, which Trump declined.Why it mattersThe Strait of Hormuz is a critical waterway for global oil shipments. Tensions between the US and Iran have led to fluctuations in oil prices. Trump's rejection of Iran's proposal has added to uncertainty over the timing of a broader resumption of shipping through t