Brent crude futures fell 7 cents, or 0.07%, to $99.18 a barrel, while US West Texas Intermediate (WTI) declined 35 cents, or 0.39%, to $90.17. The latest moves kept oil below the $100 mark as traders assessed improving supply prospects.

Saudi pipeline brings supply relief

Saudi Arabia has restarted its East-West oil pipeline, which carries crude toward the Red Sea port of Yanbu and provides an alternative route around the Strait of Hormuz.

The pipeline was shut after drone attacks earlier this month. Its partial restart is expected to help restore crude flows, although operations are currently running below full capacity.

The pipeline can move about 7 million barrels per day at full capacity, while around 4 million barrels per day had been rerouted through it, equal to roughly 4% of global oil supply.

US-Iran talks remain in focus

Markets are also watching possible diplomatic contacts between the United States and Iran at the United Nations General Assembly in New York. Reports of potential negotiations have eased some concerns over future supply disruptions.

Iraq has also been working to maintain and expand crude exports through alternative routes as disruptions around the Strait of Hormuz continue. Iraqi exports had exceeded 3 million barrels per day earlier in September.

Meanwhile, traders are awaiting the latest US Energy Information Administration (EIA) inventory data for further clues about market direction.