Oil prices finished nearly unchanged on Tuesday as increased crude exports from the Middle East helped ease some supply concerns, while continued attacks in the region kept a floor under prices. Markets also weighed plans by the Group of Seven to release emergency crude and diesel inventories.

Brent crude rose 26 cents, or 0.3%, to settle at $100.58 a barrel, while WTI increased one cent, or 0.01%, to settle at $89.44 a barrel.

Additional Middle Eastern barrels reaching the global market have helped offset some of the supply disruptions caused by the war with Iran. Approximately 12 million barrels per day of crude and 2 million barrels per day of refined products have reportedly been moving out of the region by tanker over the past seven to 10 days. Saudi Arabia also reported that 5.8 million barrels had moved through its East-West Pipeline toward the Red Sea export hub of Yanbu.

At the same time, concerns over additional disruptions remain. Attacks on airports in Jazan and Najran in Saudi Arabia, along with continued fighting involving Iran-backed Houthi forces in Yemen, are keeping traders focused on the potential for further interruptions to Middle Eastern energy supplies.

The global diesel market remains another major concern. The G7 has agreed to release 100 million barrels of emergency diesel and crude inventories, with the International Energy Agency expected to discuss the details of the release next week. The move comes as diesel prices remain elevated and supply shortages continue to affect transportation, agriculture and industry.

The EIA also expects the ongoing disruption from the war with Iran to weigh on global petroleum production in 2026. World production is projected to fall from 106.3 million barrels per day in 2025 to 101.1 million barrels per day in 2026, while demand is expected to decline from 104.4 million barrels per day to 102.4 million barrels per day. The agency expects both supply and demand to recover in 2027, with production reaching 109.6 million barrels per day and consumption reaching 104.6 million barrels per day.

U.S. crude inventories will be another focus this week, with the API report due Tuesday and the EIA report Wednesday. Analysts are expecting crude stocks to have increased by approximately 1.7 million barrels for the week ended October 2.

• Where: The Gaylord Opryland Hotel
• Attending: Brian Baker (239.297.4519)
• Conference Website

• Where: The Westin Galleria Dallas
• Attending: David Cohen (954-729-4774), and Curtis Chandler (239-405-3365)
• Conference Website

• Where: The Westin Galleria Dallas
• Attending: Brian Baker (239.297.4519)
• Conference Website