Oil Prices Climb as US-Iran Tensions Delay Hopes for Peace

By Angel No Lie | KPD Online | International News | September 28, 2026

Global oil prices have risen as diplomatic efforts to resolve the conflict between the United States and Iran remain uncertain, raising fresh concerns about the security of international energy supplies.

Brent crude futures climbed by 3.29 percent to 107 dollars and 75 cents per barrel, while US West Texas Intermediate crude increased by 2.32 percent to 94 dollars and 55 cents per barrel at 0540 GMT on Monday, September 28, according to Reuters.

 Rising Oil Prices Amid Middle East Uncertainty.

The increase follows US President Donald Trump’s rejection of an Iranian peace proposal intended to resolve the conflict and facilitate the reopening of the Strait of Hormuz, a strategic shipping route for global oil supplies.

Iran had reportedly communicated its proposal to Washington through Qatari mediators after discussions at the United Nations General Assembly in New York.

Despite rejecting the proposal, President Trump indicated that American negotiators could hold further discussions with Iranian representatives during the week, leaving some possibility for renewed diplomatic engagement.

Tanker Traffic and Security Concerns in the Strait of Hormuz.

Market analysts say continued instability in the Middle East could threaten oil shipments and keep prices volatile as traders assess the prospects for peace.

However, preliminary data from energy analytics firm Kpler showed that crude oil exports from key Middle Eastern producers recovered to approximately 12.8 million barrels per day in September, the highest level since the conflict began in February. Shipments through the Strait of Hormuz have also shown signs of recovery.

The situation remains uncertain, with developments in diplomatic negotiations, regional security and oil transportation expected to influence market movements in the coming days.

For oil-importing countries, sustained increases in crude prices could raise concerns about fuel costs, transportation expenses and inflation, depending on the duration of the price surge and how international markets respond.

Reporting note: This is an independently rewritten news report based on Reuters reporting. Prices reflect the reported market position at 0540 GMT on September 28, 2026.