Yes. According to Al Jazeera on September 28, 2026, Brent crude — the international oil benchmark — rose more than 3% on Monday, nearing $108 a barrel in Asian trading after U.S. President Donald Trump rejected Iran’s proposal to reopen the Strait of Hormuz within seven days. Later that morning, Brent futures for November were trading at about $107.35 a barrel shortly before 08:00 GMT.
The move followed Trump’s Saturday rejection of Tehran’s UN-backed plan, which sought release of frozen funds, sanctions relief, and an end to the U.S. naval blockade in exchange for reopening the strait and returning to nuclear talks. Source: Al Jazeera.