Oil price today (May 4, 2026): Crude drops as Trump signals help for ships stuck in Strait of Hormuz; stays above $100 per barrel
OPEC+ announced on Sunday that seven member nations would increase their combined production targets. (AI image) Oil price today: Crude oil prices on Monday edged down after US President Donald Trump announced that Washington would take steps to assist vessels stranded in the Strait of Hormuz. Still, crude remained firmly above the $100-a-barrel mark as…