Iran presented its peace proposal during the United Nations General Assembly in New York last week, saying the plan was delivered to the United States through Qatari mediators. Trump confirmed on Saturday that he had rejected it, although he later said US negotiators could join discussions this week.

Analysts said geopolitical risks remain high as attacks linked to Yemen’s Houthis and Iran threaten energy infrastructure and oil shipments. A Saudi-led coalition said it intercepted two ballistic missiles and two drones launched toward Saudi Arabia.

Supply flows show signs of recovery

Kpler data showed crude exports from major Middle Eastern producers rose to 12.8 million barrels per day in September, the highest level since the conflict began in February. Oil shipments through the Strait of Hormuz have also recovered, with flows expected to reach about 7.4 million barrels per day this month.

Saudi Arabia has increased crude exports from Ras Tanura on its eastern coast after attacks damaged its East-West pipeline. Concerns over record diesel prices and possible US restrictions on diesel exports remain another factor affecting the oil market and could keep global energy markets volatile in coming days.