Interfax reports that oil rose moderately on Tuesday morning after a notable decline the previous day on data about increased supplies from the Middle East. By 8:14 Moscow time, December Brent futures on ICE Futures had risen by $0.58, or 0.58%, to $100.90 per barrel. November WTI futures on NYMEX gained $0.46, or 0.51%, to $89.89 per barrel.
On Monday, Brent fell by $1.93, or 1.89%, to $100.32 per barrel, while WTI fell by $1.68, or 1.84%, to $89.43 per barrel. According to Kpler, oil exports from the Middle East on four of the seven days in the last week of September exceeded the levels recorded before the start of the US-Iran war, despite attacks on ships in the Strait of Hormuz. On those days, exports ranged from 19.5 million to 22.5 million barrels per day, compared with an average of 18 million barrels per day for the period from March 2025 to February 2026.
“Alternative routes and logistical changes somehow allowed producers to ensure oil transport despite the problems in the Strait of Hormuz”, said Priyanka Sachdeva of Phillip Nova. “However, it is still too early to talk about a full normalization of supplies. Attacks on tankers have resumed in the Strait of Hormuz, and there have been even more of them in recent days. This means that transport and insurance costs remain high”, she added.
The day before, the chairman of Yemen’s Presidential Leadership Council, Rashad Mohammed Al-Alimi, announced the start of Operation “Dawn of Yemen”, which he linked to the fight against the Houthis and the liberation of Sana’a. Yemeni military officials said they had wrested areas near the Bab el-Mandeb Strait and the airport in the city of Dubab from the Houthis.
Air support for the operation is being provided by Arab coalition forces led by Saudi Arabia. Al Jazeera reported that the Saudi naval forces struck Houthi targets in Yemen’s Red Sea province of Hodeidah, while Houthi-linked media reported airstrikes on Kamaran Island and the area of the port of As-Salif.
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