Oil prices rise as investors continue to watch U.S.-Iran moves, Citi sees 'overhang' disappearing

Oil prices experienced a slight uptick early Tuesday as investors closely monitor ongoing developments in the Middle East, particularly the U.S.-Iran situation. This cautious optimism stems from indications that the conflict might soon come to a resolution. Analysts at Citi note that the "overhang" of uncertainty surrounding these geopolitical tensions appears to be lifting, which could stabilize oil markets. This shift matters because oil prices heavily influence global economic conditions, from fuel costs to manufacturing and transportation.