Daijiworld Media Network - New York
New York, Mar 24: Oil prices rebounded on Tuesday after a sharp decline in the previous session, amid rising concerns that the ongoing conflict in West Asia could escalate further with the involvement of more countries.
Brent crude climbed toward $104 a barrel after plunging nearly 11% on Monday, when Donald Trump delayed a potential strike on Iran’s energy infrastructure for five days, citing possible talks with Tehran.
However, Iranian officials denied that any negotiations were underway, while Israel continued its attacks, heightening geopolitical tensions in the region.
Meanwhile, the US crude benchmark West Texas Intermediate rose nearly 4%, recovering part of the losses from the previous session as markets reacted to the uncertain outlook and supply risks.