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Oil prices continued their upward trend for a second consecutive session on Tuesday, driven by growing anxiety over potential supply disruptions from the Middle East following escalation between the United States and Iran. This offset the impact of field data indicating a recovery in regional exports.

Brent and WTI Gains in Trading

Brent crude futures rose by 63 cents, or 0.6%, to reach $105.91 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 72 cents, or 0.8%, to end trading at $93.32 a barrel.

Indicators of Regional Export Recovery

According to preliminary estimates published by energy data firm Kpler, crude exports from top Middle East producers rebounded in September to 12.8 million barrels per day—the highest level since last February—driven directly by increased shipments from Saudi Arabia and the UAE.

Geopolitical Tensions and the Strait of Hormuz

Current concerns stem from armed conflict that erupted in late February following U.S. and Israeli strikes on Iran. This has put navigation through the Strait of Hormuz—a vital artery for global oil and gas shipments—under threat and heavy scrutiny, causing instability across energy markets.