Oil, Yields Rise After Trump Rejects Iran Truce -- WSJ

By Joe Wallace

Oil prices are on the rise after President Trump rejected an Iranian truce proposal that would have opened the Strait of Hormuz for seven days.

Instead, the fossil-fuel highway remains closed, further squeezing global energy supplies.

The most actively traded Brent crude futures, the international benchmark for oil, are up more than 2% at around $100 a barrel. One sign supplies are running low: The front-month contract, which expires this week, trades substantially higher.

Higher energy prices are pushing up government borrowing costs around the world. Yields on 10-year U.S. Treasury notes have risen above 5.2%, after ending last week at their highest level since 2007.

U.S. stocks are off to a negative start to the week. Markets elsewhere are mixed, with gains in Europe and losses in Asia.

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(END) Dow Jones Newswires

September 28, 2026 09:37 ET (13:37 GMT)