Oil climbs toward $107 as hopes for Hormuz reopening fade
Oil strengthened at the start of the week, as Washington's refusal of Tehran's ceasefire terms dimmed hopes for an early reopening of the Strait of Hormuz.
September 28, 2026 (MLN): Oil strengthened at the start of the week, as Washington's refusal of Tehran's ceasefire terms dimmed hopes for an early reopening of the Strait of Hormuz. Currently, Brent crude futures is up, 2.48%, at $106.91 per barrel, according to data by Mettis Global. West Texas Intermediate (WTI) crude futures is up by $1.62, or 1.75%, to $94.03 per barrel by [09:52 am] PST. The rally followed a we...