Global oil prices edged higher on Tuesday as investors waited for possible progress in US-Iran talks during the United Nations General Assembly in New York.

Brent crude futures rose above $101 a barrel, while West Texas Intermediate (WTI) also moved higher. Reuters reported that Brent gained $1.14 to $101.48 a barrel, while the more actively traded WTI November contract rose to $93.22.

Analysts said the latest increase appeared to be driven mainly by short-covering rather than a major change in the oil market’s fundamentals. Tim Waterer of KCM Trade said prices could remain volatile as traders react to developments involving the United States and Iran.

Saudi Aramco increases crude shipments

Saudi Aramco has increased crude loadings through the Strait of Hormuz following disruptions to Saudi Arabia’s east-west pipeline.

Tanker tracking data showed that Aramco loaded about 14 million barrels of crude onto seven supertankers in the Gulf on Sunday. The increase suggests a partial recovery in Saudi oil shipments.

Libya supply faces fresh disruption

Meanwhile, production at Libya’s Sharara oilfield has been partially reduced. Libya’s National Oil Corporation said an armed group closed a pipeline valve, causing a significant reduction in crude production. Engineers estimated output had fallen by around 200,000 barrels per day.

The developments leave global oil markets closely focused on diplomacy, regional security and changes in crude supplies.