Oil Rebounds Past $94 After Trump Rejects Hormuz Offer
Crude shook off Friday's slide and turned back up as the White House rejected Iran's proposal to reopen the Strait of Hormuz. November WTI traded at $94.10, up 1.69%, and Brent cleared $106.96, up 2.65%, on the session, per CNBC, with the market pricing a return to strikes on Iranian oil infrastructure after the November midterms rather than an early deal that would free the roughly 262 vessels holding at the chokepoint.
Key Takeaways November WTI rebounded to $94.10, up 1.69%, and Brent rose to $106.96, up 2.65%, after President Trump rejected Iran's Hormuz reopening proposal. Hormuz stays effectively shut: roughly one transit a day versus an 85-per-day baseline, with about 262 vessels holdi…
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