Oil heads higher as US-Iran peace talks in stalemate

Published September 28, 2026 Updated September 28, 2026 07:30am

Oil prices rebound more than 1 per cent after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz, Reuters reports.

Brent crude futures rise $1.82, or 1.74pc, to $106.14 a barrel by 2202 GMT while US West Texas Intermediate crude was at $93.55 a barrel, up $1.14, or 1.23pc.

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