US-Iran standoff over reopening the Strait of Hormuz
Oil rose as Iran threatened to widen the conflict and held to a seven-day proposal to reopen the Strait of Hormuz, while Trump rejected the proposal. Iran said indirect talks with the US remained open; Trump said the conflict could end soon but did not rule out further strikes.
Timeline
Monday, 28 September
- ‘They were asking for everything up front:’ US Ambassador to UN Mike Waltz explains why Trump rejected Iran's proposal
Iran sought sanctions relief in exchange for reopening the Strait of Hormuz
- Hormuz Tensions: Iran Hits Back At US Over Strait Control, Points To Oil Price Premium
Iran proposed a seven-day plan to reopen the Strait of Hormuz; Trump rejected Tehran's conditions
- Gold Declines As Hormuz Impasse Keeps Rate-Hike Bets Elevated
Oil rose after Iran refused to soften its conditions for reopening the Strait of Hormuz
- More US Strikes On Iran? Trump Hints 'It's Possible'; Tehran Says Fully Prepared For 'Doomsday' War
Trump said the US could end the Iran conflict soon, after which oil prices would fall sharply
- Trump says US will win Iran war soon; does not rule out strikes before midterms
Trump said the US-Iran conflict would be won “very soon”
- Oil rises as Iran holds to Strait of Hormuz proposal rejected by Trump
Oil rose as Iran stuck to its seven-day proposal to reopen the Strait of Hormuz
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Sunday, 27 September
- Iran's foreign minister keeps indirect talks with the U.S. open; Iranian navy claims capture of underwater drone
Iran’s foreign minister says talks are the only way to break the deadlock with the US
- US claims successes in isolating Iran
Treasury Secretary Scott Bessent said he sent envoys worldwide to pressure countries to economically isolate Iran
- ‘Because they’re dying’, ‘They have no money now’: Trump reveals why Iran wants Strait of Hormuz reopened
Tehran seeks sanctions relief, an end to the blockade and a ceasefire before fully reopening the Strait of Hormuz
Saturday, 26 September
- Iran Says No Nuclear Concessions Even If US Accepts Strait Of Hormuz Proposal
Iran says it will make no nuclear concessions even if the US accepts its Strait of Hormuz proposal
- Trump rejects Iran proposal to reopen Hormuz as regional tensions persist
Trump said he rejected Iran’s proposal to reopen the Strait of Hormuz
- Trump rejects Iran’s seven-day ceasefire proposal; renewed bombing reportedly possible
Trump rejected Iran’s conditional seven-day ceasefire proposal
- Oil Declines as Traders Weigh US, Iran Hormuz Talk Progress
Oil fell on tentative signs of progress in US-Iran talks to reopen the Strait of Hormuz
- Iran says the US must accept its seven-day plan
Iranian Foreign Minister Abbas Araqchi said it is now up to the US to accept Iran’s seven-day plan.
Friday, 25 September
- Oil prices fall after Iran asks U.S. to return to failed memorandum of understanding from June
Iran asked the U.S. to meet conditions in the June 17 memorandum of understanding
- Iran proposes seven-day plan to reopen Strait of Hormuz
Araghchi said the US must complete required steps within four to five days
- Global bond sell-off eases as oil prices retreat from recent highs
Global bond-market relief followed oil prices retreating from recent highs
- ‘We are ready’: Iran’s Pezeshkian challenges Trump with offer to open nuclear programme to inspectors
Pezeshkian offered to open Iran’s nuclear programme to inspectors
- US-Iran war LIVE Updates: Tehran wants to revive June ceasefire with US, 'willing to give up 60% enriched uranium'
Tehran was reportedly willing to give up uranium enriched to 60%
- Oil Futures Post Back-to-Back Gains on Escalation Concerns
Oil futures rose for a second straight session
- Senate narrowly votes down resolution calling for end to Iran war
The Senate narrowly rejected a resolution calling for an end to the Iran war
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Thursday, 24 September
- US and Iran explore a phased deal to reopen the Strait of Hormuz and end the blockade
Iran offered to reopen the Strait of Hormuz within 7 days if the US lifts its blockade and waives sanctions
- Oil rises as Iran threat to widen war dims hopes of Strait of Hormuz deal
Brent futures rose more than 3% to above $106 a barrel before paring gains
- Live updates: Oil back on the rise as Iran denies report of deal talks
Bitcoin pulled back to $84,000 as stocks slipped and interest rates rose alongside surging oil prices
