Oil prices rise as fears mount over longer Middle east conflict

MG News | September 29, 2026 at 10:30 AM GMT+05:00

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September 29, 2026 (MLN): Oil prices rose for a second consecutive day on Tuesday, as concerns mounted that the Middle East conflict could drag on longer, even though efforts to defuse tensions were reportedly underway.

Currently, Brent crude futures is up, 0.08%, at $107.32 per barrel, according to data by Mettis Global.

West Texas Intermediate (WTI) crude futures is up by $0.21, or 0.22%, to $94.28 per barrel by [10:29 am] PST.

The United States and Iran are engaging separately with mediators as part of renewed efforts to end the conflict.

Citing Iranian Foreign Minister Abbas Araghchi, Al Jazeera reported that Tehran had held indirect talks with Washington through Qatari mediators in New York, according to CNBC.

The Strait of Hormuz, through which 20% of the world's oil supply passed before the war, remains under close watch as a key flashpoint in the conflict.

The developments follow President Donald Trump's rejection on Saturday of Tehran's conditional proposal to reopen the strait, after which he told aides he expects US strikes on Iran to resume once the November midterm elections are over.

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Name	Price/Vol	%Chg/NChg
KSE100	170,478.93 44.79M	0.03% 53.31
ALLSHR	103,104.99 167.82M	0.05% 47.97
KSE30	50,734.79 11.56M	0.03% 16.96
KMI30	244,196.46 14.68M	0.04% 94.61
KMIALLSHR	66,855.54 89.81M	0.05% 35.90
BKTi	47,115.38 1.92M	0.06% 25.99
OGTi	34,956.49 0.62M	-0.16% -55.96

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	83,585.00	84,005.00 83,100.00	-205.00 -0.24%
BRENT CRUDE	107.48	107.87 105.76	2.20 2.09%
RICHARDS BAY COAL MONTHLY	123.00	0.00 0.00	-0.10 -0.08%
ROTTERDAM COAL MONTHLY	138.00	138.60 136.95	1.25 0.91%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	94.32	94.74 93.00	1.72 1.86%
SUGAR #11 WORLD	18.57	18.84 18.39	0.07 0.38%