US refineries are running near maximum capacity at 97.4 per cent, supported by strong export demand.
At the bourses, meanwhile, investors sought refuge in realty, pharma and the metal pack. Their respective indexes on the NSE gained up to 17 per cent thus far, ACE Equity data shows.
Brent crude futures were down 25 cents, or 0.3%, to $89.45 a barrel while West Texas Intermediate crude futures fell 22 cents, also 0.3%, to $83.31
Rabobank expects Brent to remain volatile in the months ahead, with $70-$75/bbl acting as the lower-end support zone and $95-$100 forming the upper end of the range.
Brent crude futures were down 60 cents, or 0.7 per cent, to $87.24 a barrel by 0004 GMT, down for a fourth day
Brent crude futures fell $1.78, or 2.0%, to $86.80 a barrel by 0027 GMT, while US West Texas Intermediate crude futures were down $1.49, or 1.8%, at $80.87
The main source of uncertainty remains the US-Iran standoff and the continuing disruption around the Strait of Hormuz.
Brent crude futures were down 9 cents, or 0.1%, at $92.16 by 0104 GMT, while US West Texas Intermediate crude was up 1 cent at $85.02 a barrel
Brent crude futures fell $1.22, or 1.29%, to $93.17 by 0035 GMT, while US West Texas Intermediate crude was at $85.86 a barrel, down $1.20, or 1.38%
Brent crude futures settled up $2.16, or 2.4%, at $93.78 a barrel, the highest since July 24
HDFC Bank, ITC, HUL shares decline over 1 %
Brent crude futures climbed 26 cents, or 0.29%, to $91.28 by 0004 GMT, while US West Texas Intermediate crude futures were up 37 cents to $85.31 a barrel
Brent crude futures climbed 27 cents, or 0.3%, to $91.14 by 0003 GMT, after rising to their highest since July 30 on Monday
Brent crude futures rose as much as 1% to $89.40 per barrel and were last trading up 72 cents at $89.20 by 0229 GMT
Mirae Asset Sharekhan said that in the absence of any resolution between the US and Iran, each passing week would see floor prices increasing for global oil prices.
Brent futures rose 1 cent, or 0.1%, to $87.08 a barrel by 0247 GMT, while US West Texas Intermediate (WTI) crude futures rose 6 cents to $81.31 a barrel
If negotiations continue to lose momentum, Brent could move towards $95-97 a barrel. However, any credible diplomatic breakthrough could quickly unwind part of the premium and trigger a sharp reversal
Brent futures gained 72 cents, or 0.81%, to $89.63 a barrel by 0053 GMT, while US West Texas Intermediate (WTI) crude climbed 71 cents, or 0.85%, to $83.91
MSCI's broadest index of Asia-Pacific shares outside Japan swung between losses and gains and was last up 0.2 per cent while South Korea's Kospi rose 0.3 per cent
Brent crude futures rose 91 cents or 1.09%, to $84.46 a barrel by 0056 GMT, while US West Texas Intermediate crude futures rose 61 cents, or 0.78% to $78.79 a barrel