The official price of the Oman Crude for November delivery dropped by $2.19 to $110.22 per barrel on Tuesday.
The monthly average price of Omani crude oil for September delivery was US$76.36 per barrel, down US$2 and 73 cents compared to the price of August delivery, while the average monthly price for October has been $87.84.
Crude prices dropped around 4 percent on Monday after Trump signalled he would be open to meeting Iranian President Masoud Pezeshkian, who will travel to New York for the UN General Assembly this week.
Stephen Innes, analyst at Quintex Intel noted that the world's top crude exporter Saudi Arabia is "finding ways to put oil back onto the water".
A lightning offensive by Ansar Allah in recent weeks has seen the Yemeni fighters seize control of strategic coastal areas overlooking the Bab al-Mandeb Strait from Saudi-backed government forces.
The gains cement the hold of Iran and its allies on the two waterways that the wider Gulf, including Riyadh, relies on to ship out its oil.
"Saudi Arabia is using its enormous logistical flexibility to work around a badly damaged export map" and has "pivoted aggressively back toward its Gulf export system," Innes said.
But the benchmark international contract, Brent crude, remained above the symbolic $100 mark on Tuesday. "Oil remains one diplomatic misstep away from rebuilding its geopolitical premium," Innes said.
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