Oil prices rose for a second consecutive session on Tuesday as traders remained focused on supply risks linked to the Middle East and continued uncertainty over shipping through the Strait of Hormuz.
Brent crude gained about 0.6% to trade near $105.91 a barrel in early Asian dealing, while U.S. West Texas Intermediate rose about 0.8% to $93.32.
Exports recover, but transport remains inefficient
Regional crude exports have improved, with higher shipments from Saudi Arabia and the United Arab Emirates helping lift September volumes. Even so, traders remain concerned that ship-to-ship transfers and rerouted cargoes are less efficient than normal flows through the Strait of Hormuz.
That logistical friction has kept a risk premium embedded in oil prices despite renewed diplomatic contacts.
U.S.-Iran talks continue through mediators
U.S. and Iranian officials have held separate discussions with mediators around a revised proposal aimed at ending the conflict and restoring more normal energy flows. No comprehensive agreement has been announced.
Energy markets are watching the talks closely because any durable reopening of shipping lanes could release pressure on crude and refined-product prices, while another breakdown could push prices higher.
Sources: Reuters energy coverage and global oil-market data.
