# U.S. oil hovers near $100 on report Trump dissatisfied with Iran's proposal to open Hormuz

> US crude rose more than 3% to settle near $100 after reports that President Trump was dissatisfied with Iran's proposal to reopen the Strait of Hormuz. The strait remains effectively closed to tanker traffic. The UAE also said it would exit OPEC effective May 1.

- Date: 2026-05-01 · published 2026-05-01T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/19901-u-s-oil-hovers-near-100-on-report-trump-dissatisfied-with-iran-s-proposal-to
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Continued closure of Hormuz cuts Gulf export flows and supports energy prices. Higher crude feeds through to diesel, freight and nitrogen fertilizer costs for feed production.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-01 | [WTI oil prices jump on fears Iran retaliation will hasten disruption](https://feedsoft.ai/events/12015-wti-oil-prices-jump-on-fears-iran-retaliation-will-hasten-disruption.md) | +35.6% | +50.4% |
| WTI | 2019-04-22 | [U.S. to end all waivers on imports of Iranian oil, crude price jumps](https://feedsoft.ai/events/9604-u-s-to-end-all-waivers-on-imports-of-iranian-oil-crude-price-jumps.md) | -1.1% | -1.9% |
| WTI | 2026-04-02 | [Near-term oil prices hit record premium over later deliveries after Trump vows more attacks on Iran \| Reuters](https://feedsoft.ai/events/12725-near-term-oil-prices-hit-record-premium-over-later-deliveries-after-trump-vows.md) | -2.2% | +6.1% |
| WTI | 2026-01-13 | [Oil rallies after Trump tells Iran protesters help is on the way](https://feedsoft.ai/events/11392-oil-rallies-after-trump-tells-iran-protesters-help-is-on-the-way.md) | +1.5% | +7.9% |
| WTI | 2026-04-29 | [Crude oil price near three-week high as UAE leaves OPEC; Strait of Hormuz disruption, US-Iran tension persist \| Stock Market News](https://feedsoft.ai/events/19903-crude-oil-price-near-three-week-high-as-uae-leaves-opec-strait-of-hormuz.md) | +2.2% | -10.9% |
| BRENT | 2026-03-01 | [WTI oil prices jump on fears Iran retaliation will hasten disruption](https://feedsoft.ai/events/12015-wti-oil-prices-jump-on-fears-iran-retaliation-will-hasten-disruption.md) | +31.0% | +62.6% |
| BRENT | 2019-04-22 | [U.S. to end all waivers on imports of Iranian oil, crude price jumps](https://feedsoft.ai/events/9604-u-s-to-end-all-waivers-on-imports-of-iranian-oil-crude-price-jumps.md) | +0.4% | +2.4% |
| BRENT | 2026-04-02 | [Near-term oil prices hit record premium over later deliveries after Trump vows more attacks on Iran \| Reuters](https://feedsoft.ai/events/12725-near-term-oil-prices-hit-record-premium-over-later-deliveries-after-trump-vows.md) | -2.8% | +8.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2026/04/28/oil-prices-us-iran-hormuz-negotiations-wti-brent-crude.html

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