Oil Prices Rise Ahead of US-Iran Talks at UN General Assembly

Oil prices ticked up slightly on Tuesday as investors awaited developments on potential US-Iran talks at the United Nations General Assembly this week.

The Brent crude futures November contract gained 22 cents, or 0.22%, to $100.57 a barrel at 0021 GMT, while the WTI October contract crept up 2 cents, or 0.02%, to $95.8 a barrel.

Iran and the US have exchanged threats in recent days, 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.