Energy Preview: WTI crude futures recover by over half a percent

WTI crude oil futures rebounded in early Asia on Tuesday following a near 2% drop in the previous session amid reports of de-escalating tensions in Middle East. Media reports that Iran has been urgently signaling that it seeks an end to hostilities and a resumption of talks over its nuclear program has reportedly contributed to easing geopolitical tensions. The counter is quoting at $70.61 per barrel, up half a percent on the day after having hit above $72 mark during intraday moves so far. Inventories data scheduled for the week alongside US retail sales and FOMC will be primary focus for the commodity this week.

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