Oil Prices Tick Up Ahead of Potential US-Iran Talks

Oil prices rose 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 exchanged threats on Sunday, but President Donald Trump said he would be open to meeting Iranian President Masoud Pezeshkian, who is expected in New York this week for the UN General Assembly.

Tim Waterer, chief market analyst at KCM Trade, said prices were likely to remain range-bound and sensitive to headlines until there was either clear progress or a setback in diplomatic efforts between the United States and Iran.