# Oil prices ease after rally as UAE exits OPEC; Iran conflict, Hormuz blockade keep supply concerns high

> 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.

- Date: 2026-05-01 · published 2026-05-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/19887-oil-prices-ease-after-rally-as-uae-exits-opec-iran-conflict-hormuz-blockade
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Prices remain elevated because near-term supply stays constrained, keeping energy and input costs high for feed producers despite the longer-term supply outlook.

## Read by commodity

- WTI: neutral
- BRENT: bullish ▲

## Sources

- thehindu.com: https://www.thehindu.com/news/international/oil-prices-ease-after-rally-as-uae-exits-opec-iran-conflict-hormuz-blockade-keep-supply-concerns-high/article70919229.ece

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