🔺Oil rebounded to a rise again on Monday after falling

▪ Oil prices, after experiencing a sharp drop on Monday, rose by 1 percent on Tuesday. This rebound was driven by concerns about the continued risk of supply disruptions in the Middle East, and by the improbability of a diplomatic solution.

▪ Brent futures, after falling by 7 percent on Monday and reaching the lowest level in the past three weeks, rose by 1.3 percent to reach $84.89. West Texas Intermediate also rose by 1 percent to $81.11.

▪ Monday’s drop occurred after Donald Trump said he was halting new attacks in anticipation of ongoing negotiations. However, the Islamic Republic’s Ministry of Foreign Affairs claimed that no negotiations with the United States are taking place, and that no meeting has been planned.