Tensions in the Gulf rose again on Monday after Iranian Foreign Minister Abbas Araghchi said the country was “fully prepared” should the war with the United States resume, “even if it comes to a doomsday war”. He added that Tehran was still pursuing diplomacy. The Iran doomsday war warning came a day after US President Donald Trump rejected Iran’s conditional plan to reopen the Strait of Hormuz, which we covered in our earlier report on Tehran’s conditions.
Hormuz remains restricted
The navy of Iran’s Islamic Revolutionary Guard Corps (IRGC) said the strait remains closed to unauthorised traffic. Shipping data from MarineTraffic showed 132 transits between 21 and 27 September, up from 116 the week before but far below the roughly 130 ships a day that passed through before the conflict began in late February.
Trump said he expected more talks this week and predicted the US would prevail “very soon”. Several reports suggested Washington may not resume large-scale hostilities before the November midterm elections, although there has been no formal announcement.
Oil markets react
Brent crude rose more than 3% to trade near $108 a barrel, with November futures at about $107.35 in early European trade, according to Al Jazeera. Traders said the lack of a diplomatic breakthrough, combined with the IRGC statement, revived fears of a prolonged supply squeeze.
Why it matters for India
India imports more than 85% of its crude oil, and a large share of Gulf supplies normally passes through Hormuz. Higher prices feed into fuel costs, the rupee and inflation, and they weighed on Indian stock markets on Monday. Our Hormuz and Houthi risk explainer sets out the main supply routes at stake.
Today’s News 28 Sep 2026 · 10 stories
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