Overview
- Crude futures climbed into the $115-per-barrel range, a roughly one‑month high, and Tokyo’s Nikkei opened higher as investors reacted to supply fears tied to the conflict.
- OPEC+ producers agreed to lift May output by about 206,000 barrels per day, a limited increase aimed at cushioning possible shipping disruptions.
- CNN reported Iran and Oman are discussing a transit “registration” system for the Strait of Hormuz, though whether it will happen is unclear and shippers still face uncertainty.
- Japan’s industry ministry said alternative crude supplies that bypass Hormuz will scale up from May using a Saudi pipeline to the Red Sea and the Bab el‑Mandeb strait.
- African countries that rely on imports are seeing sharper food, fuel and fertilizer prices and slower aid deliveries as costs rise and shipments face delays.