Iran’s Hormuz Reopening Proposal Awaits Official US Response

Iran was awaiting an official US response on 26 September to a proposal to reopen the Strait of Hormuz and pause regional fighting, Reuters reported.

A deal would start a seven-day countdown to reopening the strait and halting hostilities, Iranian Foreign Minister Abbas Araqchi said. Tehran said it had passed the proposal through Qatari mediators.

According to Araqchi, Iran’s terms include lifting the US blockade on Iranian ports, releasing frozen Iranian funds and waiving oil sanctions.

The Wall Street Journal reported that President Donald Trump had rejected the plan. Reuters said it could not immediately confirm that report.

The uncertainty keeps attention on a major oil-shipping corridor where traffic remains largely blocked. A proposal to reopen it is not confirmation that normal shipping has resumed.

Oil had fallen on Friday, before the latest Saturday report. Brent settled 2.1% lower at $104.32 a barrel, while US WTI fell 2.3% to $92.41, according to Reuters. Those are Friday’s closing prices, not a market reaction to the subsequent report.

Sources: Reuters, via WHBL, 26 September 2026 dateline; Reuters, via MarketScreener, 25 September 2026.

Cover: The Strait of Hormuz in a NASA Terra satellite image captured on 2 December 2020. Illustrative file image. Credit: MODIS Land Rapid Response Team, NASA GSFC / Wikimedia Commons. Public domain. Cropped.