# Oil Extends Gains Tuesday as Middle East Supply Concerns Persist

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/25127
Published: 2026-09-29T01:37:48.000Z
Updated: 2026-09-29T01:37:48.000Z
Section: Investing

> Brent rose 1.22% to $106.56 a barrel as diplomatic efforts continued and energy infrastructure and Strait of Hormuz flows remained in focus.

Oil futures extended gains Tuesday as concerns about a prolonged Middle East conflict persisted despite renewed diplomatic efforts to reduce tensions.

Brent crude futures for November delivery rose 1.22% to $106.56 a barrel. U.S. West Texas Intermediate futures gained more than 1% to $93.57 per barrel.

The U.S. and Iran are pursuing separate contacts through mediators, while regional officials are pressing for ceasefire negotiations. Progress in the talks remains a central focus for oil markets as traders assess the potential effect on geopolitical risk.

Concerns over energy infrastructure and regional flows remain amid renewed tensions between Saudi Arabia and the Houthis. The Strait of Hormuz, a crucial waterway, carried about 20% of the world’s oil supply prior to the war and remains closely watched.

Diplomatic progress may reduce some of oil’s geopolitical premium, while continued regional tensions keep supply risks in focus. Earlier coverage examined how ceasefire talks could affect oil’s geopolitical premium and regional supply risks.

Higher oil prices can reinforce inflation concerns and put pressure on government bond yields, a backdrop that has previously weighed on risk-sensitive assets including Bitcoin (BTC) and Ether (ETH). Markets will continue to watch energy flows and negotiations.

## Links in this article

- [Earlier coverage examined how ceasefire talks could affect oil’s geopolitical premium and regional supply risks](https://www.tokenpost.com/news/investing/24047)