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Brent crude spikes
- U.S. President Donald Trump rejected Iran's proposal to reopen the Strait of Hormuz within seven days, telling reporters on September 26, 2026.
- The refusal sparked global energy price spikes and heightened risks for civilian shipping and workers dependent on the waterway.
- Iranian media reported explosions and missile drone attacks on vessels in Strait after the rejection.
- Brent crude futures rose 3% to $107 per barrel after dismissal of the Iranian offer.
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