Prices settled slightly lower on Tuesday after Saudi Arabia said it was working with regional and international partners to prevent an escalation, and reaffirmed its efforts to stabilise oil markets
Brent crude oil futures were up 55 cents to $91.26 a barrel by 1:01 p.m. EDT (1701 GMT), after falling to a session low of $89.50, the lowest price since September 8
Prices got a further boost after the IEA warned that continued supply cuts by the two OPEC+ leaders are likely to create a “significant supply shortfall” and threaten further price volatility