Oil rises for second session... Brent to $105.91

Oil prices rose for a second consecutive day on Tuesday, as persistent concerns about supply disruptions in the Middle East stemming from the conflict between the United States and Iran overshadowed indicators pointing to a recovery in crude exports from the region.

Brent crude futures rose by 63 cents, or 0.6 percent, to $105.91 per barrel by 00:02 GMT, while U.S. West Texas Intermediate crude climbed by 72 cents, or 0.8 percent, to $93.32.

Tim Waterer, an analyst at KCM Trade, said: “A clearer picture is emerging of increased oil shipments leaving the Gulf region, but a significant portion of this increase still relies on alternative methods such as ship-to-ship transfers. These methods are less efficient and more costly than standard operations, which is why crude prices remain elevated.”

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Preliminary figures from data firm Kpler on Monday showed that crude oil exports from major Middle Eastern producers rebounded in September to 12.8 million barrels per day, the highest level since February, driven by increased shipments from Saudi Arabia and the United Arab Emirates.

Officials from the United States and Iran stated that representatives from both countries held separate talks with mediators, as part of new efforts to end the war that erupted seven months ago.