Brent Holds Near $101 as Gulf Supply Risks Persist

Oil prices are holding steady due to persistent Middle East supply risks and recovering Gulf exports. The Brent benchmark has rolled over to the December contract, which is trading at around $100.99 per barrel, a gain of approximately $3.16 or 3.23% from Monday's close.

The U.S. benchmark, WTI, is down by about 1.10% at $91.58 per barrel compared to Monday's settlement price of $92.60.

Regional crude exports have increased to around 12.8 million barrels per day, but shipping remains less efficient than before the conflict and U.S.-Iran diplomacy has not produced an agreement.

A Reuters poll indicates American crude and gasoline stocks likely declined last week, while distillate inventories were expected to be roughly unchanged.