Brent crude eased on Monday as more oil returned to the global market from the Middle East, while countries also moved to release emergency fuel reserves to help offset supply disruptions caused by the conflict.
Brent stood at $102.35 a barrel on Monday, October 5, 2026, up 0.10% from the previous session, according to the CFD benchmark tracking Brent crude. The benchmark is up 5.34% over the past month and 56.34% from a year earlier.
The increase in available oil comes as Middle Eastern exports recover towards, and on some days above, levels seen before the conflict.
Middle East oil exports recover
Crude exports from the Middle East exceeded pre-war levels on four of the seven days in the final week of September, according to shipping data reported by Reuters.
Exports reached between 19.5 million and 22.5 million barrels per day on those days, compared with an average of about 18 million barrels per day before the conflict.
The seven-day average reached 18.5 million barrels per day by October 1, showing that more crude is reaching international buyers despite continuing problems around the region.
Saudi Arabia has also been restoring exports through its East-West pipeline, which allows oil to be moved from its eastern fields to the Red Sea, reducing the need to send all of its crude through the Strait of Hormuz.
But transporting oil remains more difficult and expensive.
At least seven tanker attacks have been reported since late September, according to Reuters, while maritime authorities have reported attacks in the Strait of Hormuz and Gulf of Aden since October 2.
The Strait of Hormuz is an important shipping route for oil because large volumes of crude from Gulf producers pass through it to reach customers in Asia and other markets.
G7 adds emergency supplies
The increase in Middle Eastern exports is being supported by a planned release of 100 million barrels of crude oil and diesel from emergency reserves held by G7 countries.
The release, agreed on Friday, will take place through the International Energy Agency over four months, with a large amount of diesel expected to enter the market during the first 20 days.
The G7 countries also agreed not to restrict energy exports as part of the effort to keep fuel supplies available.
Japan said on Monday, however, that it does not plan to make another release from its own national oil reserves.
OPEC+ keeps production targets unchanged
Meanwhile, OPEC+ agreed over the weekend to keep its November oil production targets unchanged.
The decision was taken by Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman, which are among the group’s key producers.
However, several Gulf producers have been producing and exporting less oil than their official targets because of the conflict and difficulties moving crude through the region.
Reuters reported that exports from some Gulf OPEC+ producers have fallen to between 60% and 80% of normal levels in recent months.
This means the decision to keep production targets unchanged does not immediately translate into a large increase in the amount of oil reaching international markets.
Saudi Arabia cuts oil prices for Asia
Saudi Aramco has also reduced the price of its main crude grade for Asian buyers to its lowest level in six years.
The reduction comes as Saudi Arabia works to maintain exports while oil shipments from the Gulf face higher transportation costs and security risks.
The cost of hiring large oil tankers to move crude from the Gulf to Asia has risen sharply. Reuters reported that daily rates reached about $1.2 million, compared with roughly $80,000 a year ago.
Conflict continues to threaten oil flows
While more oil is reaching the global market, fighting in and around the region continues to pose risks to supplies.
Yemen’s Saudi-backed government said on Sunday that it was launching a major military operation to retake areas controlled by the Houthi movement.
The Houthis also claimed to have launched missiles and drones towards Saudi Aramco facilities in Riyadh and Khurais in response to Saudi-led strikes. Saudi authorities had not confirmed the attacks at the time of reporting.
For now, recovering Middle Eastern exports and the planned release of emergency reserves are increasing the amount of oil available to global buyers, even as attacks and the conflict continue to threaten shipping routes and energy infrastructure.
