Oil prices were little changed in early Asian trade on Thursday as investors assessed the outlook for US-Iran peace talks and recovering crude exports from the Gulf.
Brent crude futures rose 12 cents, or 0.1%, to $98.15 a barrel, while US West Texas Intermediate (WTI) fell 7 cents, or 0.1%, to $90.35 by 0045 GMT.
Both benchmarks gained about $1 on Wednesday. Brent rose around 14% in September, its biggest monthly increase since July, while WTI gained about 5%.
Analysts said signs of improving Middle East exports were limiting further gains. Saudi Arabia has resumed oil loadings from Yanbu after restarting its East-West Pipeline, which had been disrupted earlier this month.
Goldman Sachs estimated Gulf oil exports, including so-called “dark exports”, had recovered to around 23.3 million barrels per day over the past week.
Qatar has continued shuttle diplomacy between Washington and Tehran, but no breakthrough has been announced.
US President Donald Trump has denied reports that he offered Iran sanctions relief in exchange for nuclear concessions.
Meanwhile, OPEC+ is expected to keep November production targets unchanged at its Sunday meeting.
US crude inventories also rose by 922,000 barrels to 427.3 million, while fuel inventories fell amid strong demand.
