Oil gains over 1% as Trump rejects Iranian proposal to reopen Hormuz Strait — Live Feedhttps://www.live-feeds.com/feed/oil-gains-over-1-as-trump-rejects-iranian-proposal-to-reopen-hormuz-straitContinuously updated, source-cited coverage. Oil gains over 1% as Trump rejects Iranian proposal to reopen Hormuz Straithttps://www.live-feeds.com/feed/oil-gains-over-1-as-trump-rejects-iranian-proposal-to-reopen-hormuz-straithttps://www.live-feeds.com/feed/oil-gains-over-1-as-trump-rejects-iranian-proposal-to-reopen-hormuz-strait#u89864Wed, 30 Sep 2026 00:02:05 +0000Oil prices surged after US President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz. Global markets remain under pressure as crude oil prices extend gains amid continued uncertainty over US-Iran negotiations. Brent crude climbed above $106 per barrel, while US crude was trading near $94. The surge in oil prices is driven by concerns over tightening Gulf supplies.Why it mattersThe Strait of Hormuz is a critical waterway for global oil supplies, and any disruption to it can significantly impact oil prices. The US-Iran negotiations have been a key factor in determining o