London, September 28, 2026 — Global financial markets came under pressure on Monday as oil prices climbed sharply amid renewed uncertainty over the conflict between the United States and Iran.

Brent crude rose by around 4% to above $108 a barrel, after the latest diplomatic efforts failed to produce an agreement over the Strait of Hormuz and regional fighting.

The rise in energy prices has increased concerns about inflation and the possibility that interest rates could remain elevated for longer. Stock markets in several regions also moved lower as investors assessed the potential economic impact.

Markets are now closely watching developments in the Middle East, as well as upcoming economic data from the United States that could influence expectations for interest rates.

The situation remains fluid, with governments and financial markets monitoring both diplomatic developments and disruptions to global energy supplies.

Source: Reuters
Published: September 28, 2026