Oil prices ease after rally as UAE exits OPEC; Iran conflict, Hormuz blockade keep supply concerns high
Gasoline inventories fell by 8.47 million barrels, while distillate inventories fell by 2.60 million barrels. File | Photo Credit: Getty Images/iStockphoto Oil prices eased on Wednesday (April 29, 2026) from a multi-day rally as investors digested the ramifications of the United Arab Emirates’ surprise decision to quit OPEC, though supply disruptions from the stalemated Iran…