Oil Rebounds From Three-week Lows As US-Iran Talks Remain Uncertain

Oil prices rebounded on Tuesday after reaching a three-week low the previous day, driven by uncertainty surrounding U.S.-Iran peace negotiations. While the U.S. President indicated ongoing talks and a "last chance" for an agreement, Tehran denied direct negotiations, stating discussions were only with Oman regarding the Strait of Hormuz. Regional tensions were further heightened by a cargo vessel being struck near Oman, raising concerns about potential supply disruptions.