Oil prices recover as traders monitor Iran talks and US operations

WTI crude futures rebounded toward the $92 per barrel mark on Tuesday, recovering part of the previous session?s steep losses as renewed US military operations in southern Iran and ongoing diplomatic negotiations with Tehran kept energy markets volatile. Investor sentiment remained cautious amid Iran and Qatar talks, raising expectations of a possible easing in supply disruptions and the eventual reopening of the Strait of Hormuz. However, fresh US strikes targeting missile launch sites and vessels in southern Iran heightened geopolitical risks, while President Donald Trump warned that further military action could follow if negotiations collapse. Reflecting the renewed uncertainty, MCX June crude oil futures advanced 2.6% to Rs 8,851, while Brent crude futures climbed nearly 3% toward the $99 per barrel level.

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