Oil Prices Ease as Iran Talks and Saudi Exports Recover

oilprice.com —

Oil prices eased as renewed prospects for US-Iran negotiations and recovering Saudi Arabian exports tempered supply fears, bringing Brent crude down toward $104 per barrel. The restart of Saudi Arabia's East-West pipeline and initial loadings from Yanbu added downward pressure, though Houthi threats remain a risk. The talks, reportedly mediated by Pakistan, face skepticism after Donald Trump said he would "offer Iran nothing," suggesting negotiations may stall. QatarEnergy extended LNG supply force majeure for Asian customers through November due to restricted Hormuz flows, with loadings down 80% from pre-war levels. The International Energy Agency signaled it could discuss further emergency stock releases if supply conditions worsen, while Saudi Aramco restored East-West Pipeline flows to around 3.5 million barrels per day following a 10-day halt from drone strikes.


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