Oil Prices Slip as Gulf Exports Recover Amid US-Iran Talks

Oil prices declined on Thursday as investors weighed the outlook for US-Iran peace talks against signs that crude exports from the Gulf region are recovering.

The decline came a day after both benchmarks gained around $1 a barrel. Despite Thursday's weakness, crude prices ended September with substantial gains.

Brent rose around 14% during September, its biggest monthly increase since July, while WTI gained about 5% over the month.

The recent rally has been driven largely by concerns that the conflict and uncertainty around US-Iran diplomacy could disrupt oil supplies from the Middle East. However, signs of a recovery in regional exports have provided some counterweight to those supply concerns, limiting the upward pressure on prices.