Oil Prices Rebound as US-Iran Talks Stall and Regional Supply Risks Persist

Oil prices rebounded on Monday as uncertainty surrounding US-Iran negotiations kept geopolitical risks elevated.

Brent crude futures rose $1.32, or 1.27%, to $105.64 a barrel by 0036 GMT, while US West Texas Intermediate crude gained 70 cents, or 0.76%, to $93.11 a barrel.

The move followed US President Donald Trump's rejection of an Iranian peace proposal aimed at resolving the conflict and reopening the Strait of Hormuz.

Regional supply concerns have also increased following attacks by Iran-backed Houthis on Saudi Arabia, with ANZ analysts saying geopolitical risks remain elevated as attacks involving the Houthis and Iran leave regional supply flows vulnerable.