Iran–U.S. Talks Falter as Hormuz Crisis Drives Oil Higher

2026, September 28

Iran / United States

Mediators were still working on a possible agreement between Iran and the United States to end the fighting and reopen the Strait of Hormuz, but President Donald Trump rejected an Iranian proposal on Monday. The setback pushed crude prices higher and intensified fears that the disruption could feed global inflation.

The dispute remains globally significant because the Strait of Hormuz is a critical energy route. The latest developments suggest that indirect diplomacy is continuing, but major differences over sanctions, military pressure and Iran’s nuclear programme remain unresolved.