Oil Prices Edge Higher Ahead of US-Iran Talks at UN General Assembly
Oil prices have risen slightly ahead of potential US-Iran talks at the United Nations General Assembly this week. The November futures contract gained $0.22, or 0.22%, to $100.57 a barrel at 0021 GMT.
The WTI October contract, which expires on Tuesday, crept up by $0.02, or 0.02%, to $95.8 a barrel. The more actively traded November contract was up $0.13, or 0.14%, at $92.49 a barrel.
Iran and the US exchanged threats on Sunday, but President Donald Trump said he would be open to meeting Iranian President Masoud Pezeshkian, who is expected to attend the UN General Assembly this week.
'The move higher in WTI and the stronger open in Brent have the appearance of a typical short-covering bounce after the recent decline, rather than a fundamental shift,' said Tim Waterer, chief market analyst at KCM Trade.