Oil slips as Middle East supply concerns ease

Oil prices fell Tuesday as investors weighed signs of recovering Middle East crude exports against ongoing supply disruption risks from the U.S.-Israeli conflict with Iran. Brent crude dropped 1.86% to $103.32 a barrel, while U.S. West Texas Intermediate fell 2.11% to $90.65. Saudi Arabia resumed loadings from its Red Sea port of Yanbu after restarting the East-West Pipeline, and September exports from major Middle Eastern producers hit 12.8 million barrels a day, the highest since February. Analysts noted gains rely on costly workarounds like ship-to-ship transfers, keeping prices elevated. European diesel futures eased to around $1,379 per metric ton after President Donald Trump supported a possible export ban, though the U.S. is considering regulatory relief for red-dyed diesel instead. U.S. and Iranian officials held separate talks with mediators, but Trump denied offering concessions to end the seven-month war.