Oil Extends Rally After Iran Denies US Talks, Supply Risks Remain in Focus

Oil prices climbed in early Asian trade after Iran denied negotiating with the U.S., with WTI around $91.50 and Brent near $103 as markets reassess supply risk amid Middle East disruptions; Monday’s dip below $100 spurred by Trump’s remarks was followed by Iran’s denial of talks, while the IEA notes widespread energy infrastructure damage and ongoing supply constraints that could keep prices elevated even if hostilities ease.