Trump Rejects Iran's Hormuz Plan; Brent Closed Friday at $104
U.S. markets are closed for the weekend. Trading resumes Monday, September 28, at 9:30 a.m. ET (4:30 p.m. in Istanbul).
The news came after Friday's close. The Wall Street Journal, citing U.S. officials, reported that Donald Trump rejected Iran's offer to reopen the Strait of Hormuz within seven days.
The White House has not commented publicly. A U.S. official told Al Jazeera that Washington is in no hurry to respond.
Iranian Foreign Minister Abbas Araghchi made the offer on Friday. His terms: release of $12B in frozen assets, an end to oil sanctions and the U.S. naval blockade, and a halt to all fighting, including in Lebanon.
According to the report, Trump doubts Iran would meet U.S. demands. He expects bombing to resume after the November midterms.
Friday's rally was built on exactly that hope.
Brent fell 2.1% to settle at $104.32. The Dow rose 478 points, or 0.93%, to 51,828.62, snapping a three-week losing streak. Those prices have not yet seen the rejection.
In the last session (Friday, September 25), fund prices show the S&P 500 (SPY) up 0.54%, the Nasdaq 100 () up 0.46% and the () up 0.94%. gained 3.2% and .