India, Nov. 3 -- Oil prices rebounded on Tuesday after a reported U.S. attack on Qeshm Island on the eve of crucial midterm elections.
Brent crude futures rose 1.8 percent to $106.62 a barrel after slumping 7.6 percent in the previous session on signs of diplomatic progress between the U.S. and Iran.
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WTI crude futures were up 1.6 percent at $97.98 a barrel on heightened fears of Middle East escalation.
The United States reportedly struck Iran's strategic Qeshm Island in the Strait of Hormuz on Monday, the latest in a series of limited strikes on the country in recent weeks.
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