Brent July futures slipped 0.3% to $107.88 per barrel in trade after Trump announced US effort to guide stranded ships in Hormuz.
OPEC+ plans to raise production by 188,000 barrels per day in June, following UAE's exit from the group on May 1.
The Strait of Hormuz, carrying roughly 20% of global oil, remains disrupted after Iran blocked it in late‑February, heightening supply concerns.