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The price for a barrel of Brent crude oil, the international standard, fell 0.3% to $107.10. Benchmark U.S. crude slipped 0.3%.

U.S. oil prices ended March 30 above $100 a barrel for the first time since the U.S. and Israel launched a war against Iran.

President Donald Trump on March 30 threatened widespread destruction of Iran’s energy resources if a deal to end the war with Tehran is not reached soon.

Iran is trying to set up a tolling system, seeking payments of as much as $2 million per voyage through the waterway.

Brent crude is on pace for a record monthly gain in March, as the war between the U.S., Israel and Iran has rocked the oil-rich Middle East.

Treasury Secretary Scott Bessent said a U.S. insurance program meant to boost shipping through the Strait of Hormuz will begin soon.

Four of the six largest swings ever seen in international oil benchmark Brent futures have come since the war started at the end of February.

Doubt is taking over again on Wall Street from hope about a possible end to the war with Iran, and stocks are back to sinking as oil prices rise.

Consumers are responding to one of the largest disruptions in global oil markets by embracing low-carbon technologies that promise to lower gas and power bills.

Trump administration officials are examining what a potential spike in oil prices as high as $200 a barrel would mean for the economy, according to sources.