Oil Prices Slip 0.4% Amid Hormuz Shutdown

Brent futures fell 0.4% to $107.36/bbl and WTI slipped 0.3% to $101.91/bbl after three-session rally.
Traders monitor near-total closure of Strait of Hormuz, which handles about 20% of global oil flow, and U.S. inventory data.
U.S. EIA expects Hormuz to stay closed through late May, forecasting a 2.6 million‑barrel‑per‑day inventory drop and Brent averaging $106 in May‑June.
Saudi Aramco CEO Amin Nasser warned full market recovery may not occur until 2027, noting limited compensation from alternative pipelines.