# Oil ends up nearly 3% as Hormuz disruption outweighs UAE OPEC exit

> Oil ended up nearly 3% at $111.26 a barrel, its seventh straight daily gain, while June WTI briefly traded above $100 for the first time since April. The move came as Hormuz disruption outweighed the UAE's exit from OPEC.

- Date: 2026-05-01 · published 2026-05-01T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/19883-oil-ends-up-nearly-3-as-hormuz-disruption-outweighs-uae-opec-exit
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Persistent Hormuz disruption keeps energy and transport costs elevated, supporting prices for biofuel feedstocks and raising input costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-rise-no-end-iran-war-stand-off-seems-sight-2026-04-28/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.