Crude Oil Prices Rebound on Renewed US-Iran Hopes and Saudi Shipments

Crude oil prices rebounded on Tuesday after four consecutive sessions of losses, as investors weighed the prospect of renewed US-Iran talks at this week's UN General Assembly.

Brent crude futures for November delivery rose 1.8% to $99.20 a barrel, while US West Texas Intermediate (WTI) crude futures gained 1.9% to $90.70 a barrel as of 2:25 pm IST.

The gains came after Brent settled 3.4% lower on Monday and WTI fell 4.5%, with both benchmarks closing at their lowest levels since Sept. 9.

Analysts said crude oil prices rebounded in early trading, clawing back part of the previous session's losses as persistent Middle East tensions continued to support risk premiums.