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Crude slips below 110 dollars as Strait of Hormuz remains chokepoint politics
Economy
Published on 4 May 2026
A ship freeing push is in play
Oil prices edged lower on Monday, with crude dropping below $110 for the second straight session. Traders are weighing prospects around a U.S. push to free vessels stuck in the Strait of Hormuz, while Tehran Washington tensions continue. With the key shipping route still largely blocked, the market is also watching OPEC+ output decisions, where any disruption could quickly lift prices.
- Crude prices dipped below $110 for a second session
- Markets track a U.S. effort to unblock Strait of Hormuz ships
- Iran U.S. tensions keep the route largely constrained
- OPEC+ output decisions remain a major upside risk
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times