Trump Says US Will Help Stranded Ships in Strait of Hormuz, International Oil Prices Fall
International crude oil prices fell after former US President Trump stated that the US would assist ships stranded in the Strait of Hormuz. However, due to the lack of a peace agreement between the US and Iran, oil prices remain above $100 per barrel.
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- 📰 Published: May 4, 2026 at 13:52
- 🔍 Collected: May 4, 2026 at 14:01 (9 min after Published)
- 🤖 AI Analyzed: May 4, 2026 at 14:35 (33 min after Collected)
US-Iran War Key News
Central News Agency
(Central News Agency, Singapore, 4th, comprehensive foreign report) International crude oil prices fell today after US President Trump stated that action would be taken to free ships stranded in the Strait of Hormuz; however, oil prices remained above $100 per barrel due to the lack of a peace agreement between the United States and Iran.
According to Reuters, as of 23:08 GMT, international benchmark Brent crude futures fell by 64 cents, or 0.59%, to $107.53 per barrel; they closed down $2.23 on May 1.
US benchmark West Texas Intermediate (WTI) crude fell by $3.13 on May 1 and further dropped by 84 cents, or 0.82%, today, to $101.10 per barrel.
Trump posted on his social media platform "Truth Social" on the evening of the 3rd: "For the benefit of Iran, the Middle East, and the United States, we have told these countries that we will guide their ships safely out of restricted waters so that they can freely and smoothly continue their business."
Due to the lack of progress on a peace agreement and continued restrictions on shipping traffic in the Strait of Hormuz, oil prices remained above $100 per barrel. The US and Iran continued consultations over the weekend, continuously evaluating each other's responses.
Analysts at ANZ Bank stated in a report: "Peace talks are stalled because neither side is willing to back down from their respective red lines."
Trump has prioritized a nuclear deal with Tehran, while Iran has proposed temporarily setting aside the nuclear issue until the war ends and the warring parties agree to lift mutual blockades on Persian Gulf shipping.
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced yesterday that they would raise the oil production target for seven member countries by 188,000 barrels per day in June, marking the third consecutive monthly increase.
This increase is the same as the amount agreed upon in May and excludes the share of the United Arab Emirates, which withdrew from OPEC on May 1. However, as long as the Iran war continues to disrupt Persian Gulf oil supplies transported through the Strait of Hormuz, this production increase will largely be theoretical. (Compiler: Chang Hsiao-wen) 1150504
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Central News Agency
(Central News Agency, Singapore, 4th, comprehensive foreign report) International crude oil prices fell today after US President Trump stated that action would be taken to free ships stranded in the Strait of Hormuz; however, oil prices remained above $100 per barrel due to the lack of a peace agreement between the United States and Iran.
According to Reuters, as of 23:08 GMT, international benchmark Brent crude futures fell by 64 cents, or 0.59%, to $107.53 per barrel; they closed down $2.23 on May 1.
US benchmark West Texas Intermediate (WTI) crude fell by $3.13 on May 1 and further dropped by 84 cents, or 0.82%, today, to $101.10 per barrel.
Trump posted on his social media platform "Truth Social" on the evening of the 3rd: "For the benefit of Iran, the Middle East, and the United States, we have told these countries that we will guide their ships safely out of restricted waters so that they can freely and smoothly continue their business."
Due to the lack of progress on a peace agreement and continued restrictions on shipping traffic in the Strait of Hormuz, oil prices remained above $100 per barrel. The US and Iran continued consultations over the weekend, continuously evaluating each other's responses.
Analysts at ANZ Bank stated in a report: "Peace talks are stalled because neither side is willing to back down from their respective red lines."
Trump has prioritized a nuclear deal with Tehran, while Iran has proposed temporarily setting aside the nuclear issue until the war ends and the warring parties agree to lift mutual blockades on Persian Gulf shipping.
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced yesterday that they would raise the oil production target for seven member countries by 188,000 barrels per day in June, marking the third consecutive monthly increase.
This increase is the same as the amount agreed upon in May and excludes the share of the United Arab Emirates, which withdrew from OPEC on May 1. However, as long as the Iran war continues to disrupt Persian Gulf oil supplies transported through the Strait of Hormuz, this production increase will largely be theoretical. (Compiler: Chang Hsiao-wen) 1150504
Choose to stand with facts, every sponsorship you make is a force to protect press freedom.
Download the Central News Agency "First-hand News" APP to stay updated with the latest news.
Text, images, and videos on this website may not be reproduced, publicly broadcast, or publicly transmitted and used without authorization.