Oil Rises as Iran Says It Won’t Soften Strait of Hormuz Demands

Petroleum Geochemistry I Ariana Energy Researchers
Date: 10 October 2026|

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Bloomberg–Oil rose as Iran said it wouldn’t soften its conditions to reopen the Strait of Hormuz after President Donald Trump rejected its proposal to do so, dashing hopes of a speedy resumption of traffic through the crucial waterway.

Brent advanced towards $108 a barrel, while West Texas Intermediate climbed above $94. Tehran’s conditions are something Washington might have agreed to about a year ago, Trump told Axios in an interview on Sunday, saying that Iran has overplayed its hand. The US president said he expects negotiations to resume this week, Axios said.

 

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