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00:02Oil rose on Tuesday on supply fears, as Iran denied it had talks with the United States
00:07to end the war in the Gulf, contradicting U.S. President Donald Trump who said a deal
00:11could be reached soon, according to Reuters.
00:14Crude futures had dropped more than 10% on Monday, after Trump ordered a five-day delay
00:19to attacks on Iran's power plants, saying the U.S. had talks with unnamed Iranian officials
00:25that produced major points of agreement.
00:27Brent futures rose $1.25, or 1.3%, to $101.19 a barrel in early London trading.
00:36U.S. West Texas Intermediate climbed $2.15, or 2.4%, to $90.28.
00:44KCM Trade Chief Market Analyst Tim Waterer said the market's moderate rebound reflects stabilization
00:50while traders remain cautious, because the Strait of Hormuz is still not secure.
00:54BCA Research said the Iran conflict is showing tentative de-escalation, but risks around the
00:59Strait of Hormuz remain unresolved, making it too early to position for lower oil prices.
01:04For all things money, visit Benzinga.com.
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