Oil prices rose nearly 1 percent on Tuesday, on mounting evidence of a drop in crude exports from Iran, OPEC's third biggest producer, ahead of new US sanctions and a partial closure in the Gulf of Mexico over Hurricane Michael.
Global Brent crude <LCOc1> jumped $ 1.09 to $ 85 a barrel, up 1.30 percent. Global benchmark crude hit a four-year high of $ 86.74 a barrel last week, but fell to $ 82.66 on Monday.
US West Texas Intermediate crude futures rose 67 cents to settle at $ 74.96 a barrel, up 0.90 percent.
Iran's crude exports fell more in the first week of October, according to tanker data and industry sources as buyers sought alternatives before the US sanctions came into force on November 4.
OPEC's top producer Saudi Arabia said last week it would increase crude supplies next month to 10.7 million bpd, an unprecedented record.
Producers in the US Gulf of Mexico cut oil production by nearly 40 percent on Tuesday as Hurricane Michael approached the Florida coast.
