WTI crude oil futures jumped by nearly 1% in early Asian trades on Tuesday amid ongoing geopolitical tensions between the US and Iran. President Trump reportedly said on Monday that he would prefer reaching an agreement with Iran, with talks set to resume on Thursday, but warned of a “very bad day” for Tehran if a nuclear deal fails to materialize. Modest strength in dollar is however restricting gains in the commodity. Currently, the counter is quoting at $66.88 per barrel, up 0.80% on the day, hovering around a 7-month high. Weekly oil inventories will be watched for further cues.