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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%.

The move comes as Unilever agreed to combine its food business with spice maker McCormick in a $44.8 billion deal.

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.

The Middle East accounts for about 9% of global output of aluminum, used in airplanes, food packaging and solar panels.

Owners of diesel-powered vehicles have seen even steeper fuel price increases since the war started on Feb. 28.

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.

So far in March, barely six vessels per day on average have traversed the strait. That compares with about 135 a day in normal times.

The company will run additional hours at its Flint, Mich., factory starting in June, but doesn’t plan to add more workers.

Unlike earlier this week when Trump announced that talks with Iran were progressing, investors appear to be skeptical of the president's latest claim.

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