Oil was little changed. Brent remains above the psychologically-important $100-a-barrel level even though ship tracking data show a significant uptick in Middle Eastern oil exports to levels close to pre‑war levels, CBA said.
Oil prices edged down on Tuesday as resilient Middle Eastern crude exports and a G7 emergency stockpile release eased supply concerns, though attacks by Yemen's Houthis on Saudi targets kept traders wary of risks to Gulf supplies.
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More tankers are getting through the Strait of Hormuz despite Iranian threats in a burgeoning system of risky shuttle runs that cost up to $40 million.
Oil prices fell with traders weighing an emergency oil and diesel stock release, renewed attacks around the Hormuz Strait and persistent supply risks.
Oil prices were mixed in early Asian trade amid signs of attacks around the Strait of Hormuz and the G-7 crude-oil release plan.
Iran's targeting of ships has improved, according to a U.S. official, making transits through the Strait of Hormuz riskier.
The move by OPEC+ was in line with expectations that further output policy adjustments are unlikely until next year.
OPEC+ has agreed in principle to keep oil production targets steady for November, three sources close to the matter said ahead of the group's meeting on Sunday.
The Group of Seven wealthy democracies said Friday that they plan to release 100 million barrels of oil and fuel products in the coming weeks, starting with “substantial” amounts of diesel after the fuel recently hit record high prices in the United States.
Despite a weak September for broader markets, shipping, rate hedges, oil and semiconductors delivered strong ETF gains.
The announcement would seem to end the threat of a U.S. ban on diesel exports, at least for now.