Oil prices slipped Thursday, with Brent at $114.08 (-3.3%) and WTI at $104.86 (-1.9%) as June contracts expired.
Prices remain set to end April up, after March’s record gains, driven by Strait of Hormuz disruptions and a US naval blockade.
Trump’s potential Iran strike briefing and his push for an international coalition to reopen Hormuz added geopolitical volatility.
JPMorgan analysts estimate Hormuz closure cut >10% of global crude supply, yet Brent is 43% above its one‑year average.