Brent Tops $115 as Trump Rejects Iran Hormuz Offer—White House Signals Extended Blockade Preparations

Brent crude futures surged past $115 per barrel after reports that US President Trump rejected an Iranian proposal to reopen the Strait of Hormuz, a critical global oil chokepoint. According to sources cited by CNN, Tehran is expected to submit a revised proposal within days, though it remains unclear what concessions—if any—Tehran would offer to satisfy the White House, particularly regarding its nuclear program. The rejection marks a sharp diplomatic setback in efforts to ease tensions threatening global energy markets.

US intelligence agencies are reportedly examining how Iran might respond should Trump declare a premature victory and withdraw pressure, a sign that internal pressure on the administration to wind down hostilities is mounting. The White House, meanwhile, has sought to project resolve, stating it will not be rushed into a poor agreement. As the Wall Street Journal reported, Trump has told aides to prepare for an extended blockade, preferring what associates describe as decisive outcomes over negotiated settlements. Military options remain on the table, though Reuters sources note that the costs associated with full-scale hostilities have risen since earlier planning phases.

The standoff carries significant implications for energy markets and allied nations reliant on Middle East oil shipments traversing the waterway. An extended blockade or sustained military posture risks further price volatility, complicating efforts to balance pressure on Tehran with global economic stability. The incoming Iranian proposal will face intense scrutiny; absent meaningful nuclear concessions, analysts see limited scope for Trump to accept terms without appearing to back down from his stated maximum-pressure stance.