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Oil prices fell slightly on Tuesday, as markets assessed the strength of crude exports from the Middle East, while the G7's agreement to withdraw quantities from strategic reserves eased supply concerns, despite ongoing tensions in the region.
Brent crude fell 4 cents to $100.28 a barrel by 00:03 GMT, while West Texas Intermediate crude fell 11 cents, or 0.1%, to $89.33.
Tim Waterer of KCM Trade said oil prices moved narrowly after falling in the previous session, as traders absorbed a slight easing of supply concerns.
Shipping data showed that crude exports from the Middle East exceeded pre-war levels for 4 days in the last week of September, despite attacks on ships passing through the Strait of Hormuz.
The G7 agreed on Friday to withdraw 100 million barrels of diesel and crude oil from emergency reserves, and pledged not to impose restrictions on energy exports, following pressure from US President Donald Trump.
Meanwhile, markets are still monitoring the impact of the conflict in the Middle East, along with stalled US-Iran talks, amid fears of an impact on oil supplies.
The Houthis said on Monday that they had carried out 3 military operations in Saudi Arabia, targeting some areas, without Saudi confirmation of these attacks.
Waterer said oil prices would remain relatively stable unless there was clear diplomatic progress or a tangible improvement in crude export efficiency.
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