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Energy

Brent Tops $107 After the White House Rejects Iran's Offer to Reopen the Strait of Hormuz

Tehran wanted frozen funds released, sanctions lifted and the naval blockade ended in exchange for reopening the waterway within a week. Washington said no.

PR

By Priya Raghavan

Sep 28, 2026 · 5 min read

Crude oil prices jumped Monday after the White House rejected an Iranian proposal to reopen the Strait of Hormuz, extending a closure that has kept roughly a fifth of global oil supply hostage to a diplomatic stalemate.

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PR

Priya Raghavan

Corporate Insider Inc.

Priya Raghavan writes for Corporate Insider Inc.

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