Commodities
Oil Prices Rebound on US-Iran Talks Hopes Amid Ongoing Tensions
Oil prices rebounded on Tuesday after four consecutive sessions of losses as investors focused on potential US-Iran talks at the United Nations General Assembly.
The November Brent contract rose 1.3% to $101.59 per barrel, while WTI gained 0.7% to $96.45 per barrel. This comes after both benchmarks posted their lowest closing levels since September 9.
Analysts at ING attributed the recovery to persistent Middle East tensions supporting risk premiums.
US President Donald Trump has expressed willingness to meet Iranian President Masoud Pezeshkian, while Iran has conveyed conditions for re-engaging in negotiations through mediators.