28.04.2026 08:00
US President Donald Trump's dismissal of Iran's offer to open the Strait of Hormuz as insufficient because it did not cover the nuclear program drove oil prices higher. Brent crude rose to $108.6, while WTI traded at $96.9; with rising supply concerns and geopolitical uncertainty, the risk of prices reaching $110 emerged.
Global oil prices continued their rise amid tensions between the US and Iran and uncertainty over the Strait of Hormuz. Brent crude oil rose above $109 per barrel, while markets focused on messages from Washington.
TRUMP FOUND THE OFFER INSUFFICIENT
US President Donald Trump gave a reserved response to Iran's offer to reopen the Strait of Hormuz and end the war. Evaluating the proposal in a White House meeting, Trump particularly opposed the exclusion of the nuclear program from the scope.
The White House confirmed that the proposal remains on the table, but no clear statement was made on whether it would be accepted.
PRICES MOVED UPWARD
As supply concerns increased due to risks in the Strait of Hormuz, Brent crude rose to $109.30 per barrel. US crude oil (WTI) traded at around $96.9.
Uncertainty in the critical waterway, through which about one-fifth of the world's oil passes, emerged as the main factor driving prices upward.
$110 SCENARIO ON THE TABLE
Analysts indicate that if the crisis prolongs and the possibility of an agreement remains weak, oil prices could permanently rise above $110.
Investors are closely monitoring geopolitical developments as well as central bank decisions and major corporate earnings.