Oil Prices Flat as Investors Assess US-Iran Peace Talks and Gulf Exports

Oil prices barely changed in early Asia trade on Thursday as investors assessed US-Iran peace talks and Gulf exports.

Brent crude futures rose 12 cents to $98.15 a barrel, while US West Texas Intermediate crude was at $90.35 a barrel, down 7 cents from the previous day's close.

Toshitaka Tazawa, an analyst at Fujitomi Securities, said buying continued amid supply concerns as peace talks stalled, but selling pressure also prevailed with Middle Eastern oil exports showing signs of recovery.

Saudi Arabia resumed oil tanker loadings from its Red Sea port of Yanbu after restarting operations on its East-West Pipeline.

Gulf oil exports have recovered to 23.3 million barrels per day over the last week, in line with their 2025 average, as exports doubled in September according to Goldman Sachs estimates.