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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ALLSHR	99,526.88 364.30M	-1.08% -1083.61
KSE30	48,313.81 50.96M	-1.53% -750.07
KMI30	235,637.18 55.46M	-1.36% -3247.37
KMIALLSHR	64,683.09 191.88M	-0.90% -587.30
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Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,795.00	81,865.00 81,055.00	340.00 0.42%
BRENT CRUDE	113.74	114.72 112.74	0.57 0.50%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	-1.55 -1.19%
ROTTERDAM COAL MONTHLY	147.10	0.00 0.00	1.80 1.24%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	100.07	100.97 98.84	0.60 0.60%
SUGAR #11 WORLD	20.13	20.64 20.10	-0.32 -1.56%