Oil prices rose on Tuesday after four consecutive sessions of losses, as investors assessed the possibility of renewed talks between the United States and Iran alongside developments affecting crude supplies from Saudi Arabia and Libya.

With its Red Sea bypass route disrupted by attacks from Yemen and Iraq, the world’s oil kingpin is returning to the waterway it was trying to avoid in the first place.

The move comes after a drone attack disrupted the kingdom’s key East-West oil pipeline amid escalating regional tensions.

Saudi Arabia on Tuesday denied an Iraqi claim that it had bought 25 oil tankers, saying the information was ​inaccurate, after Iraq linked the alleged purchases to a sharp ‌increase in the cost of shipping its crude.

The Houthis staged an offensive in recent weeks to take over Yemen's entire Red Sea coast, threatening global trade and pushing up energy prices up. View on euronews

Saudi oil exports through the Strait of Hormuz surge to 2.9m barrels a day as Houthi advances threaten the kingdom’s alternative Red Sea route

Britain to provide aerial refueling support to Saudi Arabia amid Houthi attacks. Saudi Oil Pipeline restarts by October 31 at 76.5% YES.