Oil Prices Hold Steady Amid US-Iran Talks and Gulf Exports

Oil prices remained largely unchanged in early Asia trade on Thursday as investors weighed the implications of US-Iran peace talks and Gulf oil exports.

Brent crude futures rose by 12 cents to $98.15 a barrel, while US West Texas Intermediate (WTI) crude dropped 7 cents to $90.35 a barrel.

This comes after both benchmarks experienced significant gains on Wednesday, with Brent rising about 14% in September and WTI increasing by around 5% for the month.

Toshitaka Tazawa, an analyst at Fujitomi Securities, attributed the mixed market signals to supply concerns amid stalled peace talks, as well as signs of recovery in Middle Eastern oil exports.