Oil prices edged lower in Asian trading after reports that U.S. and Iranian negotiators were exploring a phased agreement to reopen the Strait of Hormuz in return for Washington lifting its economic blockade of Iran. Brent crude for November fell 0.6% to $105.94 a barrel and West Texas Intermediate slipped 0.8% to $93.86 after both benchmarks had risen as much as 5% in the prior session. Saudi Arabia intercepted six ballistic missiles fired by Yemen's Iran-backed Houthis toward Taif and the Yanbu region, renewing concern over Saudi oil infrastructure and Red Sea export routes following earlier disruption to the East-West pipeline. Shipping through Hormuz remained sharply curtailed, with Reuters reporting that 17 commodity vessels crossed over one recent weekend against a pre-war average of about 125 daily. U.S. commercial crude inventories rose by 3 million barrels in the week ended Sept. 18, defying expectations for a 641,000-barrel draw, while gasoline and distillate stocks declined. The Trump administration is also considering measures to raise domestic diesel availability, including a possible voluntary restriction on diesel exports.