Oil Prices Rebound as Diplomacy Keeps Market on Edge

Oil prices reversed recent losses and moved higher as traders weighed potential progress in U.S.-Iran diplomacy ahead of a UN General Assembly session, with Brent around $101.69 and WTI near $93.38. Analysts describe the move as a likely short-covering bounce rather than a fundamental shift, while some remain bullish on upside driven by Middle East supply risks; meanwhile, the G7 urged Iran to stop arming the Houthis amid attacks on Saudi energy infrastructure.