https://www.live-feeds.com/feed/oil-prices-surge-after-trump-rejects-iran-s-plan-to-reopen-strait-of-hormuzContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/oil-prices-surge-after-trump-rejects-iran-s-plan-to-reopen-strait-of-hormuzhttps://www.live-feeds.com/feed/oil-prices-surge-after-trump-rejects-iran-s-plan-to-reopen-strait-of-hormuz#u101185Mon, 05 Oct 2026 03:32:24 +0000Oil prices rose over 2% on Monday after Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz and a seven-day truce offer. Brent crude climbed more than 3% to exceed $107 a barrel. Market gains are driven by fears of continued supply disruptions and global inflation, outweighing the return of a Saudi pipeline. While Qatari mediators have pledged to facilitate further talks between Washington and Tehran, Iran has stated it will not soften its demands regarding the Strait.Why it mattersThe Strait of Hormuz is a critical global oil transit point. Recent volatility is compounded