UAE exits OPEC, sparking crude oil volatility amid US-Iran tensions and supply disruptions.

The UAE's formal exit from OPEC on May 1 has increased uncertainty in global oil supply management amid ongoing US-Iran conflicts and the effective closure of the Strait of Hormuz, causing significant disruptions in crude oil logistics and supply. This has led to increased volatility in oil prices, with WTI crude showing bullish momentum and Brent crude vulnerable to Middle East tensions. Meanwhile, US natural gas prices remain suppressed due to a glut in storage and mild demand. Market watchers are closely monitoring price resistance levels and geopolitical developments for future trends.