Oil prices rose about 1% on Wednesday after dropping to two-month lows in the ?previous session, after Iran’s security chief ?said Tehran would not allow any ?enriched nuclear material to leave the country.
Washington has said nuclear matters must be part of any initial negotiations with Tehran aimed at ending the U.S.-Israeli war on Iran.
Brent futures were up $1.32, or 1.4%, to $92.81 U,S. a barrel. US ?West ?Texas Intermediate crude gained $1.08, or 1.3%, to $87.12.
In the previous session, oil ?prices initially fell by more than $3 a barrel after US officials played down the need for further military strikes against Iran. Prices later pared some losses after an Iranian security official said no talks were taking place between the two sides.
There is little sign of attacks in the Strait of Hormuz easing after 37 ships were attacked in October, the highest monthly total ?since the start of the war, according to data from the Washington Institute for Near East Policy.
Brent and WTI prices have fallen about 21% and ?17%, respectively, since the start of the month on hopes of an end ?to the war.
On the supply side, experts said U.S. crude stocks rose by nine million barrels in the latest week. Official data is ?due later on Wednesday.
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