Brent Crude Rebounds Above $100 as Iran Denies US Talks, Reversing Monday's 10% Drop

Brent crude oil prices have returned above $100 per barrel, after experiencing a significant drop on Monday. In Tuesday morning Asian trading, Brent crude rose 3.75% to $103.69, while West Texas Intermediate (WTI) light crude also gained 3.42% to reach $91.55. Brent crude had fallen more than 10% on Monday after Donald Trump postponed new attacks against Iran — a move interpreted as a sign of de-escalation — and he also said a peace deal could be reached in the near future. But now investors are weighing this against Tehran's denial that negotiations with the United States are taking place. Inside the United States, some market observers have in recent hours spoken about "profiteering" from the volatility in oil markets, including the sudden impact of Trump's remarks about delaying strikes on Iran's power generation facilities.