Oil prices rise again

Brent crude gained 0.6% to $105.91 a barrel, while WTI rose 0.8% to $93.32. Although exports from the region have recovered, some shipments are being carried out through more expensive alternative methods, keeping prices elevated.

According to Kpler data, crude oil exports from major Middle Eastern producers climbed to 12.8 million barrels per day in September, the highest level since February. Despite increased shipments from Saudi Arabia and the UAE, risks surrounding the Strait of Hormuz continue to support prices. Renewed diplomatic contacts between the US and Iran, meanwhile, are emerging as a key factor limiting further gains.