Oil stays near $100 despite Gulf export rebound

Oil prices remained jumpy around $100 a barrel even as more crude began moving out of the Gulf. The recovery has eased the immediate fear of a complete supply stoppage, but traders do not see it as proof that the disruption is over: regional flows could still be hit again if tensions escalate. Meanwhile, the market for actual cargoes remains tight, meaning refiners and other buyers have limited room to replace barrels quickly. The result is a price that reflects both improving exports and an insurance premium for the risk that the improvement proves fragile.