Oil Prices Rebound as Investors Eye Possible U.S.-Iran Talks

Oil prices rebounded on Tuesday after a sharp decline on Monday amid hopes of possible U.S.-Iran talks during the U.N. General Assembly meetings in New York this week.

The Brent crude futures for November delivery rose by 22 cents, or 0.22 percent, to $100.57 a barrel, while the U.S. West Texas Intermediate (WTI) crude futures for October delivery gained 2 cents, or 0.02 percent, to $95.80 a barrel.

The gains came after both global benchmarks settled at their lowest levels in 12 days on Monday, with Brent crude falling $3.53, or 3.4 percent, and WTI crude dropping $4.52, or 4.51 percent, from the previous day's close.