COMMODITY
Crude oil futures end higher amid US-Iran tensions
Apr-29-2026

Crude oil futures ended higher on Tuesday, as concerns over supply disruptions persisted amid the prolonged U.S.-Iran stalemate. Market participants remained cautious as the Strait of Hormuz has effectively been closed for nearly two months, severely disrupting the movement of oil and energy shipments from Gulf producers to global markets. Meanwhile, the continuing tensions have led the UAE to announce its decision to exit OPEC next month.

Benchmark crude oil futures for June delivery jumped by $3.56 or 3.69% to settle at $99.93 a barrel on the New York Mercantile Exchange. Brent crude for June delivery surged by $3.03 or 2.80% to settle at $111.26 a barrel on London's Intercontinental Exchange. 


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