Oil rebounds from three-week low as Hormuz tensions keep supply fears alive
Brent crude rose 0.58% to $84.26 and WTI advanced 0.51% to $80.75 after Monday's 7% slide.
US President Donald Trump paused military action against Iran, but Iran's foreign ministry spokesman Esmail Baghaei denied talks were underway.
Barclays analysts reported crude and refined product exports through the Strait of Hormuz averaged 4.2 million barrels a day in the week ended July 31, up from 3.2 million the prior week.
Six Saudi-flagged supertankers altered route in the Gulf of Aden to sail towards southern Africa, while two vessels carrying Saudi crude crossed the Bab el-Mandeb Strait.
UK Maritime Trade Operations reported a cargo vessel struck by an unknown projectile northeast of Oman's Al Khasab, keeping supply fears alive.
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