OIL JUMPS 2% AS U.S.-IRAN TALKS STALL Brent surged 2.5% to $106.92, while WTI climbed 2.3% to $94.49 after President Trump rejected Iran’s proposal to end the conflict and reopen Hormuz. Further U.S.-Iran talks are expected this week, while Houthi attacks on Saudi Arabia add to
Why now
Thesis: Diplomacy failure keeps oil bid
Catalyst to watch: Further US-Iran talks this week
Main risk: Talks resuming could reverse gains
Why it matters
Stalled US-Iran talks plus Houthi attacks keep oil in deficit, supporting crude prices.
Details
OIL JUMPS 2% AS U.S.-IRAN TALKS STALL Brent surged 2.5% to $106.92, while WTI climbed 2.3% to $94.49 after President Trump rejected Iran’s proposal to end the conflict and reopen Hormuz. Further U.S.-Iran talks are expected this week, while Houthi attacks on Saudi Arabia add to regional risks. Middle East exports are recovering, but analysts say the oil market remains in deficit, keeping upward pressure on prices.
Sources
- x · 2026-09-28 08:23 UTC