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Oil prices trim gains after UAE exits OPEC, OPEC+
Financial Express Kochi
|April 29, 2026
US-IRAN TALKS COLLAPSE AFTER DIRECT NEGOTIATIONS FAIL
OIL PRICES ROSE more than 3% on Tuesday as stalled efforts to end the Iran war kept the Strait of Hormuz largely closed, constraining Middle East supplies, though the UAE’s announcement that it would leave OPEC and OPEC+ trimmed gains.
Brent crude futures for June climbed $3.37, or 3.1%, to $111.60 a barrel by 1336 GMT, after gaining 2.8% to close the previous session at their highest since April 7. The contract is up for a seventh straight day.
US West Texas Intermediate (WTI) crude for June rose $3.72, or 3.7%, to $100.09 a barrel, after gaining 2.1% in the previous session. WTI futures rose above the $100 per barrel threshold for the first time since April 13 on Tuesday.
Dit verhaal komt uit de April 29, 2026-editie van Financial Express Kochi.
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