Oil prices rise despite Iran’s proposal to reopen Strait of Hormuz
Key takeaways
- Brent crude rises more than 1 percent despite Tehran’s offer to reopen waterway in exchange for deferral of nuclear talks.
- Brent crude, the international benchmark, rose more than 1 percent on Tuesday as Tehran’s offer failed to assuage traders’ concerns about the blockade of the waterway critical for global fuel supplies.
- Brent stood at $109.42 per barrel as of 03:30 GMT, up 11 percent from Tuesday last week, and the last time the benchmark closed below $100.
Why this matters: an international story with cross-border implications worth tracking.
Brent crude rises more than 1 percent despite Tehran’s offer to reopen waterway in exchange for deferral of nuclear talks.
xwhatsapp-strokecopylinkgoogle Add Al Jazeera on Googleinfo Wells at the San Ardo oilfield in California, US, on March 9, 2026 [Nic Coury/AP Photo]By John Power Published On 28 Apr 202628 Apr 2026Oil prices are continuing to climb despite Iran’s proposal to end its effective blockade of the Strait of Hormuz in exchange for deferring nuclear negotiations with the United States.
Brent crude, the international benchmark, rose more than 1 percent on Tuesday as Tehran’s offer failed to assuage traders’ concerns about the blockade of the waterway critical for global fuel supplies.