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Brent for June dipped 1% to $111.25 a barrel after seven sessions of gains, as traders weighed the UAE's OPEC exit against the stalemated Iran war. Analysts say the UAE's exit may add supply later but cannot be delivered soon because of the Hormuz blockade.
Prices remain elevated because near-term supply stays constrained, keeping energy and input costs high for feed producers despite the longer-term supply outlook.
thehindu.comReutersMay 1, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
