Third-generation oilman walks past a working pumpjack at his oilfield in Taft, Kern County, California on Sept. 21, 2023. Oil prices ticked up in early Asian trading on Monday, extending gains for the third straight day, as shipping disruptions spurred supply worries. Brent crude futures rose 16 cents, or 0.2%, to $82.69 a barrel by 0106 GMT, while U.S. West Texas Intermediate crude futures (WTI) climbed 15 cents, or 0.2%, to $77.73 a barrel. Iran-aligned Houthis have continued their attacks on shipping in the Red Sea, and while the Israel-Hamas war has not significantly constrained oil supply, it has increased freight rates and shipping time, leaving barrels on the water for longer. In public, Israel and Hamas continued to take positions far apart on a possible truce, while blaming each other for delays.

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Persons: Brent, Joe Biden, Jeffrey Schmid Organizations: U.S, West Texas, , Kansas City Federal Reserve Bank Locations: Taft, Kern County , California, Iran, Red, Israel, U.S, Gaza, Qatar, , Kansas