Oil prices fell about 1% on Thursday as recovering Gulf exports and a surprise increase in US crude inventories eased concerns about supply disruptions. Brent crude futures dropped 1.1% to $96.92 a barrel by 0420 GMT, while West Texas Intermediate fell 1.4% to $89.18. Both benchmarks had gained about $1 a barrel on Wednesday. Brent rose around 14% in September, its largest monthly gain since July, while WTI advanced about 5%. Saudi Arabia resumed tanker loadings from Yanbu after restarting operations on its East-West Pipeline. US crude inventories increased by 922,000 barrels to 427.3 million barrels in the week ended September 25, against a Reuters poll forecast for a 264,000-barrel draw. Renewed US-Iran diplomatic engagement may further reduce the geopolitical risk premium, although a breakthrough remains uncertain. Goldman Sachs estimated Gulf oil exports, including dark exports (shipments with location transponders switched off), had recovered to 23.3 million barrels per day over the previous week, matching their 2025 average after exports doubled in September. OPEC+ oil-producing countries are likely to maintain November production targets when they meet on Sunday, Reuters reported, citing two people familiar with the matter.