Oil Settles Higher After US Rejects Iran Hormuz Proposal

September 27, 2026

News summary: Reuters reported Brent settled 96 cents higher at $105.28/bbl and WTI gained 19 cents to $92.60/bbl after the United States rejected an Iranian proposal to reopen Hormuz, though expected Qatari mediation pared an early price spike.

Market context: The wide intraday move showed why physical offers need a timestamped benchmark, short validity and separate checks on actual export flows.