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Crude oil fluctuated above $92 a barrel on Tuesday as markets weighed efforts to ease Middle East tensions against continued uncertainty over US-Iran negotiations. Saudi Arabia has restored roughly half the flows through its East-West pipeline, with shipments to the Red Sea reaching at least 3.5 million barrels a day.
Brent crude settled at $104.32 a barrel and WTI at $92.41. Traders also weighed talk of a possible US diesel export ban and disruptions to Saudi oil flows from Houthi attacks.
Crude oil rose past $103 a barrel on Thursday, its highest level since May 19th. The move was driven by escalating Middle East tensions, including strikes on energy facilities in Saudi Arabia and reported attacks in the Persian Gulf.
Saudi crown prince and Trump talk Middle East easing