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Oil rose nearly $2 a barrel at the close on Tuesday from a nine-month low hit yesterday, buoyed by supply constraints in the US Gulf of Mexico before Hurricane Ian and with the dollar retreating from a two-decade high.
And prices received support from analyst expectations of possible supply cuts from the Organization of the Petroleum Exporting Countries (OPEC) and its allies in what is known as the (OPEC +) grouping, which will meet to determine policy on the fifth of October.
Brent crude rose $2.21, or 2.6 percent, to settle at $86.27 a barrel. On Monday, Brent fell to its lowest level since January at $83.65.
