Summary of April 2026
Portfolio @ End of Apr26
Although US/Israel & Iran agreed to ceasefire and negotiate since 8 Apr26, both parties try to take control of the Strait of Hormuz.
Traffic through the strait remains much disrupted, causing the crude oil price to stay high.
The Brent crude oil price once fell below USD90/barrel but rebounded to USD120/barrel. Currently it is hovering around the USD110 mark.
UAE announced that it will quit OPEC starting May26, and will increase its daily production without OPEC's restriction.
UAE is the 4th largest oil producer among OPEC+ countries. The increasing supply can only be felt after the Strait of Hormuz is fully opened though.
