Energy preview: Crude oil prices edge up in early Asia

Crude oil edged up on Tuesday morning in Asia from over two-week low but seems to hold on to recent sharp decline amid easing supply concerns in the Middle East and growing diplomatic efforts to end the US-Iran war. Moreover, Saudi Arabia moved crude through the Strait of Hormuz at 2.9 million barrels per day over the past six days. US President Donald Trump is scheduled to address the UN General Assembly in New York later in the day and could meet with Iranian President Masoud Pezeshkian on the sidelines. Currently, WTI crude futures are up half a percent at $92.90 per barrel while Brent climbed over 1% at $101.41 per barrel.

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