Login
Why Crude Oil Rebounded as Trump Rejected Iran’s Hormuz Offer – UKOUSD and USOUSD CFD Analysis
Vantage Editorial Team >
Vantage Editorial Team >
Vantage is a global, multi-asset broker with a team of in-house writers and market analysts who produce educational and insightful trading content for traders of all levels.
Updated Fri, 2026 October 2 08:52
Key Takeaways
- The Brent-West Texas Intermediate (WTI) premium closed 25 September near $11.91 per barrel. 1
- At 09:41 (GMT+8), the Vantage UKOUSD Contract for Difference (CFD) read 104.44 and USOUSD read 96.36.
Friday’s truce optimism did not survive the weekend. By the 09:41 (GMT+8) / 01:41 (UTC) cut-off on 28 September 2026, crude oil prices today had clawed back part of Friday’s slide, and the Brent-WTI gap was still doing the talking.
Here is today’s crude oil rate check for the Vantage Brent Oil CFD (UKOUSD) and Crude Oil CFD (USOUSD): why the Brent crude oil price today and WTI keep parting ways, and what each one-hour (1H) oil price chart showed. Charts are indicative, from TradingView. Not financial advice.
Why did Crude Oil Prices Rise Today?
Crude oil prices rose on 28 September 2026 after US President Donald Trump rejected Iran’s seven-day offer to reopen the Strait of Hormuz. By 00:36 GMT, Brent futures had gained 1.27% to $105.64 and WTI 0.76% to $93.11, recovering part of Friday’s losses, Reuters reported. 2
Trump’s Rejection Put the Hormuz Premium Back on the Crude Oil Price Ticker
Mr Trump confirmed on Saturday that he had turned down Tehran’s plan: “They made a proposal but I rejected it”. 3 Iran had tied reopening the Strait to lifting the US naval blockade and releasing its assets 4, and said it would not ease those conditions. 5 He still told Axios he expects more talks this week. 2
ANZ analysts noted continued Houthi and Iranian attacks on Saudi Arabia, “leaving regional supply flows vulnerable”. 2 For Brent crude oil news, that kept the risk premium in focus.
WTI Crude Oil Lost 7.9% Last Week While Brent Barely Moved
WTI’s slide coincided with US-Iran talks at the UN 6 and with talk that Washington may curb diesel exports to ease record prices, which could curb US refining output. 2 Brent, priced off international barrels, held its ground; the same curbs could tighten fuel supply outside the US. 2
On 25 September, before the rejection, David Morrison, senior market analyst at Trade Nation, said traders saw room for a sharp oil pullback if a phased deal landed, but there were “still plenty of obstacles to overcome first”. 7 Our read on the WTI crude oil news flow: the crude oil futures price shows the mood of the day; the $11.91 spread shows how differently markets are pricing Hormuz risk and US supply. 1
| Measure | Brent (UKOUSD) | WTI (USOUSD) |
| Futures by 00:36 GMT, 28 September | $105.64 (+1.27%) | $93.11 (+0.76%) |
| Weekly Change to 25 September | +0.4% | -7.9% |
| Vantage CFD at 09:41 (GMT+8) | 104.44 | 96.36 |
| 1H Chart Range, 17 to 28 September | 97.65 to 108.35 | 92.45 to 102.55 |
| 1H 50/200-Period MAs | 104.89 / 104.18 (Price Between) | 96.63 / 98.65 (Price Below) |
| RSI (14), 1H | 47.22 | 50.42 |
Table 1: Brent vs WTI, Today’s Crude Oil Prices at a Glance, as of 09:41 (GMT+8), 28 September 2026. Sources: Reuters via Business Standard; Vantage CFD feed on TradingView. Reference levels only. Not trade signals.
What the UKOUSD and USOUSD 1H Charts Showed at the Cut-Off
UKOUSD H1, Brent Crude Oil Cash With 1H 50- and 200-Period MAs and RSI (14), 17 to 28 September 2026 (TradingView, Vantage feed, [INSERT TRADINGVIEW SNAPSHOT LINK, e.g. https://www.tradingview.com/x/XXXXXXXX/]) Captured 09:41 (GMT+8), 28 September 2026. Data indicative, for informational purposes only.
The Brent crude oil price live feed on UKOUSD swung from near 97.65 on 22 to 23 September to near 108.35 on 24 September, then eased to 103.05 on Friday. At the cut-off, 104.44 sat between the 1H 50- and 200-period moving averages (MAs). The Relative Strength Index (RSI) in the TradingView setup used for this analysis read 47.22, after topping 70 on 24 September.
USOUSD H1, WTI Crude Oil Cash With 1H 50- and 200-Period MAs and RSI (14), 17 to 28 September 2026 (TradingView, Vantage feed, [INSERT TRADINGVIEW SNAPSHOT LINK, e.g. https://www.tradingview.com/x/XXXXXXXX/]) Captured 09:41 (GMT+8), 28 September 2026. Data indicative, for informational purposes only.
The current WTI crude oil price looked softer. USOUSD printed a low near 92.45 on 23 September and a rebound to 100.35 on 24 September that faded into Friday. At 96.36, it sat below both 1H MAs, with RSI on its midline.
One caveat: CFD cash prices and futures use different pricing bases, so the crude oil price now on a CFD screen differs from the futures ticker; the Vantage CFD gap was about $8.08 at the cut-off.
Crude Oil News This Week: EIA Data and the 4 October OPEC+ Meeting
Leading the crude oil news today calendar:
- US-Iran Talks, Ongoing: Tehran awaits a definitive US reply to its offer. 5
- EIA Weekly Petroleum Status Report, 30 September 2026, Wednesday: The US Energy Information Administration (EIA) publishes after 10:30 (ET) / 22:30 (GMT+8). 8
- OPEC+ Meeting, 4 October 2026, Sunday: Seven core members meet after holding October output at 31.01 million barrels per day. 9
For broader commodities news, follow oil prices today, commodity market news, and oil news.
Brent covered more than $10 on the 1H chart in the week to the cut-off. A weekend gap can carry price straight through a Stop Loss level, and correlated energy positions can move together.
Leverage cuts both ways in a market this headline-driven, magnifying losses as much as gains. Many traders revisit position sizing before the EIA data and OPEC+ meeting. Trading CFDs on leverage carries a high risk of losing money rapidly.
RISK WARNING: CFDs are complex financial instruments and carry a high risk of losing money rapidly due to leverage. You should ensure you fully understand the risks involved and carefully consider whether you can afford to take the high risk of losing your money before trading.
Disclaimer: The information is provided for educational purposes only and doesn’t take into account your personal objectives, financial circumstances, or needs. It does not constitute investment advice. We encourage you to seek independent advice if necessary. The information has not been prepared in accordance with legal requirements designed to promote the independence of investment research. No representation or warranty is given as to the accuracy or completeness of any information contained within. This material may contain historical or past performance figures and should not be relied on. Furthermore estimates, forward-looking statements, and forecasts cannot be guaranteed. The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
References
[1] “Oil Ends Week Lower as U.S.-Iran Truce Hopes Hit WTI, While Middle East Supply Risks Keep Brent Above $100 – EnergyNow” https://energynow.com/2026/09/oil-ends-week-lower-as-u-s-iran-truce-hopes-hit-wti-while-middle-east-supply-risks-keep-brent-above-100/ Accessed on 28 September 2026.
[2] “Oil Prices Rebound After Trump Rejects Peace Deal to Resolve Iran Conflict (Reuters) – Business Standard” https://www.business-standard.com/markets/commodities/oil-prices-rebound-after-trump-rejects-peace-deal-to-resolve-iran-conflict-126092800042_1.html Accessed on 28 September 2026.
[3] “Trump Rejects Iran’s Conditional Ceasefire Proposal, WSJ Reports, as Saudi Coalition Intercepts Projectiles – CNBC” https://www.cnbc.com/2026/09/26/trump-rejects-irans-conditional-ceasefire-proposal-wsj-reports.html Accessed on 28 September 2026.
[4] “Oil Gains Over 1% as Trump Rejects Iranian Proposal to Reopen Hormuz Strait – CNBC” https://www.cnbc.com/2026/09/28/oil-price-today-wti-brent-trump-iran.html Accessed on 28 September 2026.
[5] “Brent Rises as US Rejects Iran Proposal – TradingView News” https://www.tradingview.com/news/te_news:587032:0-brent-rises-as-us-rejects-iran-proposal/ Accessed on 28 September 2026.
[6] “U.S. Crude Oil Falls Nearly 8% for the Week After Tehran and Washington Hold Talks at the U.N. – CNBC” https://www.cnbc.com/2026/09/25/oil-falls-as-potential-diplomatic-solution-to-iran-conflict-arises.html Accessed on 28 September 2026.
[7] “Oil Falls on U.S.-Iran Truce Hopes, Brent Set for Weekly Gain While WTI Declines – Yahoo Finance” https://finance.yahoo.com/energy/articles/oil-dips-sharp-gains-u-011721701.html Accessed on 28 September 2026.
[8] “Weekly Petroleum Status Report Schedule – U.S. Energy Information Administration” https://www.eia.gov/petroleum/supply/weekly/schedule.php Accessed on 28 September 2026.
[9] “OPEC+ Pauses Oil Output Hikes After Four Straight Monthly Increases – Nairametrics” https://nairametrics.com/2026/09/06/opec-pauses-oil-output-hikes-after-four-straight-monthly-increases/ Accessed on 28 September 2026.
The information has been prepared as of the date published and is subject to change thereafter. The information is provided for educational purposes only and doesn't take into account your personal objectives, financial circumstances, or needs. It does not constitute investment advice. We encourage you to seek independent advice if necessary. The information has not been prepared in accordance with legal requirements designed to promote the independence of investment research. No representation or warranty is given as to the accuracy or completeness of any information contained within. This material may contain historical or past performance figures and should not be relied on. Furthermore estimates, forward-looking statements, and forecasts cannot be guaranteed. The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
