# Crude oil price near three-week high as UAE leaves OPEC; Strait of Hormuz disruption, US-Iran tension persist | Stock Market News

> WTI regained $100 per barrel and approached a three-week high after the UAE announced it would leave OPEC effective May 1. Brent traded above $111 earlier in the session. The Strait of Hormuz disruption and the US-Iran conflict remain the main supply concerns.

- Date: 2026-04-29 · published 2026-04-29T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/19903-crude-oil-price-near-three-week-high-as-uae-leaves-opec-strait-of-hormuz
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Crude is supported by the Hormuz supply loss, though analysts expect the UAE exit to have limited immediate effect. Energy costs continue to pressure feed and fertilizer margins.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-02 | [Oil prices soar amid Strait of Hormuz fears as Iran war intensifies](https://feedsoft.ai/events/12016-oil-prices-soar-amid-strait-of-hormuz-fears-as-iran-war-intensifies.md) | +35.6% | +50.4% |
| WTI | 2026-01-14 | [WTI Nears Three-Month High As Iranian Protests Stoke Global Oil Market Concerns](https://feedsoft.ai/events/11395-wti-nears-three-month-high-as-iranian-protests-stoke-global-oil-market-concerns.md) | -0.8% | +6.2% |
| WTI | 2026-07-08 | [Soybean Oil Hits Three-Week High as US-Iran Ceasefire Dissolves - Bloomberg](https://feedsoft.ai/events/18449-soybean-oil-hits-three-week-high-as-us-iran-ceasefire-dissolves-bloomberg.md) | +12.5% | +7.9% |
| WTI | 2024-10-07 | [Crude oil price today: Oil jumps as market waits for Israel attack on Iran](https://feedsoft.ai/events/10028-crude-oil-price-today-oil-jumps-as-market-waits-for-israel-attack-on-iran.md) | +1.6% | -6.7% |
| WTI | 2024-05-28 | [Oil market braces for OPEC decisions as crude prices climb \| Euronews](https://feedsoft.ai/events/30419-oil-market-braces-for-opec-decisions-as-crude-prices-climb-euronews.md) | -4.2% | +4.3% |
| BRENT | 2026-03-02 | [Oil prices soar amid Strait of Hormuz fears as Iran war intensifies](https://feedsoft.ai/events/12016-oil-prices-soar-amid-strait-of-hormuz-fears-as-iran-war-intensifies.md) | +31.0% | +62.6% |
| BRENT | 2026-01-14 | [WTI Nears Three-Month High As Iranian Protests Stoke Global Oil Market Concerns](https://feedsoft.ai/events/11395-wti-nears-three-month-high-as-iranian-protests-stoke-global-oil-market-concerns.md) | -0.3% | +5.1% |
| BRENT | 2024-10-07 | [Crude oil price today: Oil jumps as market waits for Israel attack on Iran](https://feedsoft.ai/events/10028-crude-oil-price-today-oil-jumps-as-market-waits-for-israel-attack-on-iran.md) | +1.2% | -6.8% |

## Sources

- livemint.com: https://www.livemint.com/market/commodities/crude-oil-price-retraces-from-a-three-week-high-as-uae-leaves-opec-strait-of-hormuz-disruption-us-iran-tension-persist-11777424429510.html

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