US-Iran war, July 29 -- Oil prices climbed more than 3% on Wednesday, 29 July, recovering a portion of the previous session's losses after the United States and Iran paused hostilities. The rebound was also supported by a decline in US crude oil inventories.

Brent crude futures advanced $2.71, or 3.2%, to $86.80 a barrel after dropping over 14% in last three session, while US West Texas Intermediate (WTI) crude gained $2.26, or 3.4%, to trade at $81.95 per barrel.

In Washington, President Donald Trump held talks with Israeli Prime Minister Benjamin Netanyahu as the US administration worked to prevent a fresh round of military strikes on Iran.

Israel, which joined the US in launching military operations earlier this year, indicated that...