NEW YORK / RankWire.AI / – Oil prices experienced a recovery early Tuesday following steep drops on Monday, which marked the end of a four-session decline in international crude markets. Brent crude closed at its lowest in nearly two weeks, settling at $100.34 a barrel, down $3.53 or 3.4%. Meanwhile, October West Texas Intermediate declined $4.52, or 4.51%, reaching $95.78 per barrel. During the trading session, both benchmarks touched their lowest levels since September 9.
In the early hours of Tuesday, prices saw modest gains after Monday’s significant losses. November Brent increased by $1.14, or 1.1%, to $101.48 a barrel by 0317 GMT. October WTI gained 87 cents, or 0.9%, to $96.65 before the expiration of the contract. The more actively traded November WTI rose 85 cents to $93.22 a barrel. Brent had briefly fallen below $100 during Monday’s trading before climbing back above that level.
Saudi Arabia’s crude exports rose as oil flows through the Strait of Hormuz showed signs of improvement. On Sunday, Saudi Aramco loaded approximately 14 million barrels onto seven supertankers in the Gulf. Tanker-tracking data indicated that Saudi crude moved through Hormuz at about 2.9 million barrels per day over six days, a significant increase from roughly 700,000 barrels daily in August. Saudi Aramco remains a key source of supply data for traders watching regional export activity.
Saudi export flows resume via strategic shipping route
During the United Nations General Assembly in New York, diplomatic developments involving the United States and Iran attracted attention. U.S. President Donald Trump stated he was open to meeting Iranian President Masoud Pezeshkian during the event. Iranian officials revealed that Tehran had communicated conditions for renewed negotiations through mediators. As of Tuesday morning, no formal meeting between the two leaders had been announced, with energy markets continuing to monitor ongoing regional developments.
Elsewhere in the Middle East, disruptions to oil infrastructure persisted. Yemen’s Houthis claimed responsibility for attacks on Riyadh and a Saudi Aramco facility in Yanbu, a Red Sea city. In Libya, the National Oil Corporation reported that an armed group had closed a valve on the Sharara crude pipeline Monday, sharply reducing production at the country’s largest oilfield, which can produce approximately 300,000 barrels daily. The pipeline connects to Zawiya Port and the shutdown was confirmed by NOC, which also said technical teams had been unable to access the valve site.
Libyan pipeline shutdown influences regional supply trends
The closure interrupted the flow of Sharara crude to Zawiya Port, leading to a notable decrease in Libyan output. Meanwhile, regional shipping activity remained closely monitored. Market watchers also paid attention to the rebound in Saudi Arabia’s export volumes through the Strait of Hormuz following the weaker flow levels observed in August. The combined effects of higher Saudi exports and the Libyan pipeline shutdown contributed to the latest verified shifts in physical oil supplies from key Middle Eastern and North African producers.
Tuesday’s upward movement in Brent partially offset Monday’s 3.4% decline but left prices still near recent lows. WTI also regained some value after its 4.51% drop in the previous session. Market focus continued to center on confirmed shipping volumes, pipeline activity, and production changes. The strengthening of Saudi crude exports through Hormuz, coupled with the Libyan pipeline’s disruption, underscored ongoing adjustments in regional supply, illustrating how physical oil flows across major Middle Eastern and North African territories remain dynamic and responsive to geopolitical and logistical developments.