Oil prices were nearly flat in early Asia trade on Thursday, following the previous day's gains and steep monthly rises, as investors assessed the outcome of US-Iran peace talks and the outlook for Middle East crude exports.

The White House is considering regulatory relief that would expand sales of red-dyed diesel, a tax-exempt fuel typically used for farming, as prices surge following supply disruptions linked to the US conflict with Iran, Ukrainian strikes on Russian refineries and declining global inventories.

Analysts have raised their 2026 oil price forecasts with benchmark Brent crude expected to average nearly $90 a barrel as disruption to Gulf exports offsets concerns over demand growth.

President Donald Trump could unveil plans as soon as Wednesday to tap South Korea's pledged strategic investment package for about $54 billion to build a liquefied natural gas project in Alaska, as he rolls out a series of economic initiatives ahead of November's midterm elections.

OPEC+ oil-producing countries are ‌likely to keep their oil production targets steady for November when they meet on Sunday, two sources with knowledge of the matter told Reuters.

Oil prices steadied on Wednesday but ‌remained on track for a big monthly gain as US-Iran talks aimed at ending their war stalled, while tight fuel markets continued to underpin prices despite recovering Middle East crude supplies.

A group of US lawmakers including Senator Elizabeth Warren asked federal energy regulators this week to reject a more than $33 billion sale of power company AES, saying it could drive up electricity ‌bills and benefit data centers at the expense of utility customers, according to a letter seen by Reuters.

Alternative asset managers deploying cash from their insurance arms are reshaping how America's energy infrastructure is financed, emerging as major backers of LNG export projects and the pipelines moving crude and natural gas around the country.

Oil prices rose for a second successive session on Tuesday as lingering concern over Middle East supply disruption brought about by the US-Israeli war on Iran outweighed signs of recovering crude exports from the ‌region.

Crude oil exports from key Middle East producers rebounded in September to 16.328 million barrels per day (bpd), the highest since the US-Israeli war on Iran started in late February, data from Kpler showed on Monday, as Saudi Arabia and the United Arab Emirates boosted exports.

Crude oil exports from key Middle East producers rebounded in September to 12.8 million barrels per day, the highest since the war ⁠started in February.

California Governor Gavin Newsom signed ‌legislation allowing the immediate sale of a higher-ethanol fuel blend in the state, as it seeks to rein in skyrocketing costs at the pump in the country's largest auto market.

A global diesel shortage fueled by wars in Iran and Ukraine is unlikely to ease before next year, according to storage market indicators and industry participants, extending a spike in fuel costs that is weighing on economies worldwide.