Oil prices eased from a multi-day rally as investors digested the ramifications of the United Arab Emirates’ surprise decision to quit OPEC, though supply disruptions from the stalemated Iran war support the market, reports Reuters.

Brent crude futures for June dipped 1 cent to $111.25 a barrel by 0413 GMT, having climbed for the previous seven sessions.

The June contract expires on Thursday and the more active July contract down 28 cents at $104.12.