Oil Prices Rise as Brent Surpasses $105 Amid Supply Concerns

Crude oil benchmarks extended their gains for a second consecutive session on Tuesday, with Brent crude surpassing the $105 threshold per barrel. Market participants weighed persistent anxieties regarding potential supply interruptions in the Middle East against emerging indicators suggesting a recovery in regional export volumes.

The tension between the United States and Iran has fueled concerns about logistical disruptions, which currently outweigh signals pointing toward stabilized output from the region. This dynamic pushed futures contracts higher as traders adjusted positions based on geopolitical risk assessments rather than fundamental supply data alone.

Benchmark Futures Performance

By 0002 GMT, Brent futures had advanced by 63 cents, representing a 0.6 percent increase, to settle at $105.91 per barrel. Simultaneously, West Texas Intermediate (WTI) posted stronger relative gains, rising 72 cents or 0.8 percent to reach $93.32 per barrel.