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Oil strengthens its gains as hopes for de-escalation between Tehran and Washington diminish.

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Witer 1    -      107 Number of views
28/09/2026 | 04:27 PM

Oil prices renewed their rise today, Monday, amid faltering efforts to halt the escalation between Washington and Tehran.

West Texas Intermediate for November rose 4.35% to $96.73 per barrel, and Brent for the same month increased 4.09% to $108.59 per barrel.

The rise came after U.S. President Donald Trump rejected an Iranian proposal to resolve the dispute between the two countries and reopen the strategic Strait of Hormuz, which diminished hopes for an immediate breakthrough, according to Sujanda Sachdeva.

She added that the $120 level for Brent remains a critical resistance, and a pullback remains possible if shipping improves or talks advance.