Oil prices moved higher in Asian trading on Tuesday, snapping a four-session losing streak as investors assessed the possibility of renewed U.S.-Iran talks during this week’s United Nations General Assembly in New York.
Brent crude futures for November delivery rose 0.6% to $100.89 a barrel as of 01:15 GMT, while October West Texas Intermediate crude futures gained 0.4% to $96.19 a barrel.
The rebound followed steep losses on Monday. Brent settled 3.4% lower, while WTI dropped 4.5%, leaving both benchmarks at their lowest closing levels since September 9.
Attention is turning to potential diplomatic progress between Washington and Tehran. U.S. President Donald Trump has said he is open to meeting Iranian President Masoud Pezeshkian, who is expected to attend the U.N. General Assembly. Iran has also communicated conditions for restarting negotiations through mediators, raising expectations that diplomacy could ease regional tensions.
Oil supply concerns have moderated after Saudi Arabia reportedly increased crude shipments through the Strait of Hormuz following disruptions to its East-West pipeline. Saudi oil flows through the strategic waterway averaged about 2.9 million barrels per day over the past six days, according to satellite data cited by Reuters, significantly higher than August levels.
However, risks to Middle East oil supplies remain. Yemen’s Iran-aligned Houthi movement has continued attacks on Saudi targets, while constraints persist on some Saudi export routes. Britain has also agreed to provide limited military support to Saudi Arabia amid the Houthi attacks.
Separately, the Trump administration has proposed investing $5 billion in a new fund designed to help Middle Eastern countries rebuild energy infrastructure damaged during the Iran war and reduce dependence on the Strait of Hormuz, according to the Wall Street Journal.
Crude traders are also monitoring Trump’s planned meeting with Chinese President Xi Jinping later this week. With China ranking as the world’s largest crude importer, developments in U.S.-China trade relations and the outlook for the Chinese economy could significantly influence global oil demand.


Yen Weakens as Dollar Gains on Widening US-Japan Rate Gap
Vietnam Stocks Join FTSE Emerging Market Indexes, Unlocking Billions in Foreign Investment
US, Japan and South Korea Back Taiwan Ahead of Trump-Xi Summit
Vietnam, US Trade Deal Could Be Signed Soon, To Lam Says
Wall Street Surges as Meta Leads AI Rally, Oil Prices Fall
Gold Prices Rise as Oil Slump Eases Fed Rate Hike Fears
Bessent, He Lifeng to Discuss AI Security and Trade in New York
US-China Talks Target AI, Tariffs Ahead of Trump-Xi Summit
Oil Prices Rise as Houthi Strikes on Riyadh Fuel Middle East Tensions
Mexico Pushes for US Trade Deal Before Midterms
Europe Jet Fuel Deficit Drives South Korean Imports to Four-Year High
Yen in Focus as BOJ, Fed Rate Hikes Reshape Currency Markets
S&P 500 Historically Rallies After Midterm Elections, UBS Says
Gold Prices Slip as Strong Dollar and Hawkish Fed Pressure Bullion 



