WS #6154
No material new developments in the last 30 minutes. The UAE OPEC exit and Iran Strait of Hormuz closure remain the dominant narratives, with no new data points or counter-signals to report.
Key developments
- UAE exits OPEC and OPEC+ effective May 1, weakening cartel and potentially adding supply
- Oil prices spike above $110 Brent and $100 WTI as Iran war and Hormuz closure persist
- Airbus Q1 adjusted EBIT misses estimates, revenue beats; guidance unchanged
- Spotify Q1 beats on MAU and revenue, operating margin expands
- Jamie Dimon warns of potential bond crisis due to rising global debt