NEW YORK / RankWire.AI / – Oil prices experienced a notable rebound Monday after a four-day slide, as Brent crude reached its lowest point in nearly two weeks. November Brent settled at $100.34 a barrel, reflecting a drop of $3.53, or 3.4%. October West Texas Intermediate decreased by $4.52, or 4.51%, ending at $95.78 per barrel. During the session, both benchmarks fell to their lowest levels since September 9. This decline marked the continuation of a four-session downward trend in global crude markets.
Early Tuesday trading saw a modest recovery from Monday’s sharp losses. November Brent increased by $1.14, or 1.1%, to $101.48 a barrel by 0317 GMT. October WTI gained 87 cents, or 0.9%, reaching $96.65, ahead of its expiration. The more actively traded November WTI contract rose 85 cents to $93.22 a barrel. During Monday’s session, Brent briefly traded below $100 before climbing back above that threshold.
Saudi Arabia’s crude shipments grew as oil flows through the Strait of Hormuz showed signs of improvement. Saudi Aramco loaded approximately 14 million barrels onto seven supertankers in the Gulf on Sunday. Tanker-tracking data indicated Saudi crude moving through Hormuz at roughly 2.9 million barrels per day over six days. This volume compares to about 700,000 barrels per day in August. Saudi Aramco continues to be a crucial source of supply data for traders watching regional exports.
Saudi exports rebound via vital shipping route
During the United Nations General Assembly in New York, diplomatic developments involving the United States and Iran attracted attention. U.S. President Donald Trump said he was open to meeting Iranian President Masoud Pezeshkian during the event. Iranian officials stated that Tehran had communicated conditions for renewed negotiations through mediators. No formal meeting between the two leaders was announced by Tuesday morning. These comments emerged as energy markets continued to monitor developments across the Middle East.
Elsewhere in the region, disruptions to oil infrastructure persisted. Yemen’s Houthis claimed responsibility for attacks on Riyadh and a Saudi Aramco facility in the Red Sea city of Yanbu. In Libya, the National Oil Corporation reported an armed group had closed a valve on the Sharara crude pipeline Monday. The closure caused a sharp drop in output at the field. Sharara is among Libya’s largest oilfields, producing about 300,000 barrels per day.
Libyan pipeline shutdown influences supply trends
The National Oil Corporation stated that the valve closure interrupted the pipeline carrying Sharara crude to Zawiya Port. The company added that technical teams could not access the affected valve area when the statement was issued. This disruption reduced Libyan output at a key oilfield. Meanwhile, regional shipping remained closely monitored. Oil markets also tracked the return of higher Saudi export volumes through the Strait of Hormuz following weaker August flow levels.
Brent’s rebound on Tuesday partially recovered from Monday’s 3.4% decline but kept prices near recent lows. WTI also gained after falling 4.51% in the previous session. Shipping volumes, pipeline operations, and production shifts continued to be central to market movements. Saudi crude exports through Hormuz increased, while the Libyan pipeline shutdown reduced output. These developments represent the latest verified changes affecting physical oil supplies across major Middle Eastern and North African producers.