Brent crude rises to $103.78

Oil prices rebounded Tuesday morning following a sharp drop the previous day.

Report, citing Interfax, said that by 9:13 a.m. Baku time (GMT+4), May Brent futures on the London ICE Futures exchange rose $3.84, or 3.84%, to $103.78 per barrel. On Monday, Brent fell $12.25, or 10.92%, to $99.94 per barrel.

May WTI futures were up $3.39, or 3.85%, to $91.52 per barrel on NYMEX electronic trading, after losing $10.10, or 10.28%, to $88.13 per barrel in the previous session.

The prior day's decline followed US President Donald Trump's decision to postpone planned strikes on Iran's energy infrastructure by five days and his statement that productive talks were underway between the two countries. Tehran rejected the claim, calling it an attempt to influence financial markets, and continued attacks on US targets, while Israel struck Iranian positions.