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

Oil prices remained relatively stable in early Asia trade on Thursday, despite investors' assessments of US-Iran peace talks and Middle Eastern crude exports.

Brent crude futures rose by $0.12 or 0.1%, to $98.15 a barrel, while US West Texas Intermediate (WTI) crude was at $90.35 a barrel, down $0.07 or 0.1%.

The benchmarks rose about $1 a barrel on Wednesday, with Brent recording a monthly gain of around 14% in September, its biggest since July, and WTI increasing by about 5% on the month.

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