Oil prices rise for second day on West Asia supply worries

Oil prices rose for a second consecutive session on Tuesday, driven by ongoing concerns over West Asia supply disruptions from the US-Iran conflict, despite signs of recovering regional crude exports. Brent crude futures gained 63 cents, or 0.6%, to $105.91 a barrel, while US West Texas Intermediate crude rose 72 cents, or 0.8%, to $93.32. Analysts noted that higher Gulf export volumes rely on costly workarounds like ship-to-ship transfers, keeping prices elevated. September crude exports from major West Asian producers hit 12.8 million barrels a day, the highest since February, per Kpler data. US and Iranian officials held renewed talks on ending the seven-month war, with a potential deal seen as capping Brent below $110. The conflict has disrupted the Strait of Hormuz, a key oil shipping lane.