Mubasher: Oil prices rebounded in Tuesday's early trade on reports that OPEC members are seeking to settle all disputes on oil cut deal before their meeting by the end of this month, according to an analyst.
By 4:45am GMT, Brent crude futures rose 1.60%, or 71 cents, to reach $45.14 a barrel.
West Texas Intermediate futures were placed at $44.13, higher 1.87% or 81 cents as compared to Monday's quotes.
Market analyst Ahmed Karm said speculators are making use of reports indicating that OPEC members are trying to contain all disputes for a production cut deal, clarifying that KSA, Iran and Iraq are still in disagreement on production cuts with a leading role of Qatar, Algeria and Venezuela to overcome the current dilemma.
