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In early Asian trading, oil prices fell due to the United Arab Emirates planning to withdraw from OPEC, but tensions in the Middle East limited the decline.

In early Asian trading, oil prices fell due to the United Arab Emirates planning to withdraw from OPEC, but tensions in the Middle East limited the decline.

老虎证券老虎证券2026/04/29 00:25
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Recent front-month West Texas Intermediate crude futures fell by 0.7% to $99.21 per barrel; front-month Brent crude futures dropped by 0.6% to $110.64 per barrel. Axel Rudolph of IG wrote in an email: "This could undermine the cohesion of the organization, create internal divisions, and weaken OPEC+'s ability to present a unified stance on production and geopolitical issues." However, the chief technical analyst added that ongoing U.S.-Iran tensions and near-zero traffic through the Strait of Hormuz have heightened supply concerns. Typically, one-fifth of the world's oil is transported through the Strait of Hormuz.
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