Published April 29, 2026 Updated about 2 hours ago By Reuters NEW YORK: Oil prices closed up nearly 3 percent on Tuesday as persistent worries about supply constraints from the closed Strait of Hormuz outweighed concerns about the United Arab Emirates’ decision to leave OPEC and the wider OPEC+ group. Brent futures for June ended up USD3.03 or 2.8 percent at USD111.26 a barrel, marking its seventh consecutive day of gains. US West Texas Intermediate (WTI) futures for June settled up USD3.56 or 3.7 percent at USD99.93 a barrel, after briefly trading above USD100 earlier in the session for the first time since April 13. Prices trimmed some of the advances after the United Arab Emirates, the fourth-largest producer in OPEC+, said on Tuesday it would exit the group on May 1, dealing a blow to the oil-exporting groups and their de facto leader, Saudi Arabia. “In normal times, this would have been very bearish news for the oil market and sparked a sizable selloff,” said John Kilduff, partner at Again Capital. He estimated the UAE could quickly add between 1 million and 1.5 million barrels per day of…