Oil prices were moving higher on Tuesday, as more evidence emerged that crude exports from Iran, OPEC's third-largest producer, are declining ahead of the U.S. sanctions against the country, kicking in from November 4.
Iranian crude exports slipped to 1.1 million bpd in the first seven days of October from 1.6 million bpd in September and at least 2.5 million bpd in April, Refinitiv Eikon data showed.
Benchmark Brent crude was up 92 cents or 1.10 percent at $84.83 a barrel after having fallen as low as $82.66 on Monday. U.S. light crude futures were up 63 cents at $74.92.
Prices also remained supported amid news that Hurricane Michael will make landfall along the Gulf Coast Wednesday as a Category 3 storm.
"The center of Michael will continue to move over the southern Gulf of Mexico this morning, and then move across the eastern Gulf of Mexico later today and tonight," said the National Hurricane Center.
Offshore producers including Anadarko Petroleum Corp, BHP Billiton, BP and Chevron Corp said they have evacuated workers from 13 oil and gas platforms in the Gulf.
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