{"id":61413,"date":"2026-04-29T13:38:19","date_gmt":"2026-04-29T17:38:19","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/brent-crude-surges-to-119-as-uae-exits-opec-trump-and-putin-hold-marathon-call-on-iran-war\/61413\/"},"modified":"2026-04-29T13:38:19","modified_gmt":"2026-04-29T17:38:19","slug":"brent-crude-surges-to-119-as-uae-exits-opec-trump-and-putin-hold-marathon-call-on-iran-war","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/brent-crude-surges-to-119-as-uae-exits-opec-trump-and-putin-hold-marathon-call-on-iran-war\/61413\/","title":{"rendered":"Brent Crude Surges to $119 as UAE Exits OPEC; Trump and Putin Hold Marathon Call on Iran War"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Brent Crude prices surpassed $119.50 per barrel<\/strong>, hitting their highest level since <strong>June 2022<\/strong> following the <strong>UAE\u2019s<\/strong> shock departure from <strong>OPEC<\/strong> and escalating Middle East tensions.<\/li>\n<li><strong>President Trump and Vladimir Putin<\/strong> held a <strong>1.5-hour &quot;friendly&quot; phone call<\/strong> to discuss the <strong>Iran nuclear program<\/strong> and a potential settlement for the <strong>Ukraine<\/strong> conflict.<\/li>\n<li>The <strong>U.S. House of Representatives<\/strong> narrowly approved a rule to extend <strong>FISA surveillance authority<\/strong> and fund <strong>ICE<\/strong> just hours before a midnight deadline.<\/li>\n<li><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong> is preparing to unveil <strong>iOS 27<\/strong> at its June WWDC event, featuring a new <strong>Siri Camera Mode<\/strong> and upgraded visual AI capabilities.<\/li>\n<li>U.S. homeownership sentiment has collapsed to a <strong>13-year low<\/strong>, with only <strong>25%<\/strong> of non-homeowners expecting to buy a home in the next five years.<\/li>\n<\/ul>\n<h2>Energy Markets and the OPEC Fracture<\/h2>\n<p><strong>Brent Crude<\/strong> prices spiked to <strong>$119.50 per barrel<\/strong> today, marking a multi-year high as the energy market reacts to a historic shift in <strong>OPEC<\/strong> stability. While the <strong>UAE<\/strong> recently announced its plan to exit the producer group, <strong>Algeria<\/strong> became the first member to officially reaffirm its commitment to the organization today, followed by similar pledges from <strong>Russia<\/strong> and <strong>Kazakhstan<\/strong>.<\/p>\n<p>In <strong>Iran<\/strong>, the domestic energy crisis is worsening, with the <strong>Iranian Oil Minister<\/strong> justifying new <strong>fuel rationing<\/strong> measures due to &quot;war conditions.&quot; Despite the rationing, officials claimed there are no internal concerns regarding the long-term securing and distribution of fuel supplies.<\/p>\n<h2>Trump-Putin Diplomacy and Middle East Tensions<\/h2>\n<p>President <strong>Donald Trump<\/strong> and Russian President <strong>Vladimir Putin<\/strong> engaged in a comprehensive <strong>90-minute phone call<\/strong> today. According to the Kremlin, Putin proposed new ideas regarding the <strong>Iran nuclear program<\/strong> and voiced support for Trump\u2019s decision to extend the <strong>Iran ceasefire<\/strong>. Trump reportedly expressed confidence that a deal to settle the <strong>Ukraine<\/strong> conflict is within reach.<\/p>\n<p>Simultaneously, the <strong>United States<\/strong> is pushing for a <strong>three-week extension<\/strong> of the ceasefire between <strong>Israel<\/strong> and <strong>Lebanon<\/strong> to finalize diplomatic delegations. However, stability remains fragile; the <strong>Israeli Army Chief of Staff<\/strong> recently threatened to increase strikes beyond the &quot;<strong>Blue Line<\/strong>,&quot; drawing &quot;strongest terms&quot; condemnation from the <strong>UAE Minister of State Khalifa Al Marar<\/strong>.<\/p>\n<h2>U.S. Legislative and Economic Developments<\/h2>\n<p>The <strong>U.S. House<\/strong> passed a critical rule for five measures in a <strong>216-210<\/strong> party-line vote, securing a <strong>FISA surveillance extension<\/strong> past the Thursday midnight deadline. The package also includes the <strong>Senate-passed GOP budget<\/strong> to fund <strong>ICE<\/strong> and <strong>CPB<\/strong>, as well as the latest <strong>Farm Bill<\/strong>.<\/p>\n<p>On the economic front, a new <strong>Gallup<\/strong> poll reveals that the &quot;American Dream&quot; of homeownership is fading fast. Only <strong>25%<\/strong> of non-homeowners expect to purchase a home in the next five years, the lowest level recorded since <strong>2013<\/strong>. In the crypto markets, a <strong>Donald Trump-linked meme coin<\/strong> plummeted <strong>97%<\/strong> from its peak, hitting a fresh all-time low amid broader market volatility.<\/p>\n<h2>Tech Innovation: Apple\u2019s AI Roadmap<\/h2>\n<p><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong> is shifting its focus toward advanced artificial intelligence with the upcoming announcement of <strong>iOS 27<\/strong>. Reports indicate the tech giant will debut a <strong>Siri Camera Mode<\/strong> and significantly upgraded <strong>Visual AI<\/strong> tools at its <strong>WWDC event<\/strong> in June. These updates are expected to integrate AI more deeply into the hardware interface, allowing Siri to interact with the user&#39;s environment in real-time via the camera.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Brent Crude prices surpassed $119.50 per barrel, hitting their highest level since June 2022 following the UAE\u2019s shock 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