{
  "id": 10375405,
  "title": "Oil prices jump after Trump rejects Iran’s truce offer",
  "url": "https://urgent.news/2026/09/28/oil-prices-jump-after-trump-rejects-irans-truce-offer",
  "topic": "world",
  "section": "World",
  "published": "2026-09-28T05:46:33.000Z",
  "source": {
    "name": "Euronews",
    "slug": "euronews",
    "url": "https://www.euronews.com/2026/09/28/oil-prices-jump-after-trump-rejects-irans-truce-offer"
  },
  "original_language": "en",
  "account": "Oil prices surged more than 3% on Monday morning in Europe, reaching above $107 a barrel for the international benchmark Brent. This rise signals growing concerns about a potential supply crisis that has led to increased costs worldwide. The incident occurred after US President Donald Trump declined an Iranian proposal for a seven-day truce. Tehran's offer aimed to reopen the Strait of Hormuz, a crucial route for global energy supplies that has been blocked, causing a supply crisis and driving up costs. The strait is essential for shipping in the region, and risks have escalated in the Red Sea due to the Houthis seizing Yemen's coastline, including areas near the Bab al-Mandab Strait.\n\nPresident Trump firmly rejected the Iranian proposal during a press conference outside the White House. However, he expressed openness to resume negotiations, acknowledging that they were seeking a deal similar to what they might have agreed to a year ago. The White House reported that indirect talks between Washington and Tehran could commence as early as Monday. Iran has retained its conditions for reopening the Strait of Hormuz, including the release of frozen assets, lifting of sanctions on its oil, and ceasing the US naval blockade.\n\nOil prices experienced a decline of over 2% on Friday following the initial news of Iran's offer. However, they rebounded at the beginning of the week. The US benchmark West Texas Intermediate (WTI) was trading nearly 2% higher on Monday morning, exceeding $94 a barrel. Inflation fears negatively impacted stock markets, with the South Korean Kospi falling 2.3% upon reopening and Japan's Nikkei 225 barely changing. Hong Kong's Hang Seng rose 0.7%, while Shanghai's Composite lost 1.8%.\n\nOn Wall Street, Friday's S&P 500 and Dow Jones Industrial Average saw gains of 0.5% and 0.9%, respectively, while the Nasdaq composite increased 0.5%. Concerns over escalating inflation in the US are resurfacing, potentially creating a self-reinforcing cycle that could exacerbate the cost of living. The Federal Reserve is set to discuss this issue during its next policy meeting at the end of October. The 10-year Treasury yield briefly surpassed 5.21% early Monday, nearing its highest point since 2007. High yields can slow economic growth by raising borrowing costs and diminishing stock prices.",
  "summary": "Oil prices rose while stocks and bonds fell after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, reversing some of the optimism that lifted markets late last week.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 7,
    "also_reported_by": [
      {
        "outlet": "The Jakarta Post",
        "title": "Oil prices spike after Trump rejects Iran truce offer",
        "url": "https://urgent.news/2026/09/28/oil-prices-spike-after-trump-rejects-iran-truce-offer",
        "published": "2026-09-28T04:22:59.000Z"
      },
      {
        "outlet": "Malay Mail",
        "title": "Oil prices spike after Trump rejects Iran truce offer",
        "url": "https://urgent.news/2026/09/28/oil-prices-spike-after-trump-rejects-iran-truce-offer-10364941",
        "published": "2026-09-28T04:45:40.000Z"
      },
      {
        "outlet": "Free Press Journal",
        "title": "Crude Oil Prices Rise Over 2.5% After Trump Rejects Iran Strait Of Hormuz Proposal",
        "url": "https://urgent.news/2026/09/28/crude-oil-prices-rise-over-2-5-after-trump-rejects-iran-strait-of",
        "published": "2026-09-28T05:15:08.000Z"
      },
      {
        "outlet": "Ajel English",
        "title": "Trump claims Iranian nuclear arsenal destroyed, says oil prices lower",
        "url": "https://urgent.news/2026/09/28/trump-claims-iranian-nuclear-arsenal-destroyed-says-oil-prices-lower",
        "published": "2026-09-28T05:28:36.000Z"
      },
      {
        "outlet": "Middle East Eye",
        "title": "Oil prices spike after Trump rejects Iran proposal",
        "url": "https://urgent.news/2026/09/28/oil-prices-spike-after-trump-rejects-iran-proposal",
        "published": "2026-09-28T05:50:28.000Z"
      },
      {
        "outlet": "Euronews",
        "title": "Europe Today: EU ministers meet on Ukraine aid as Trump rejects Iran's Hormuz deal",
        "url": "https://urgent.news/2026/09/28/europe-today-eu-ministers-meet-on-ukraine-aid-as-trump-rejects-irans",
        "published": "2026-09-28T06:00:54.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}