Oil prices gained early Tuesday as optimism faded around potential talks between the U.S. and Iran at this week’s United Nations meeting. The lack of progress in diplomatic discussions contributed to a firmer sentiment in the energy markets.

Meanwhile, Asian equities rose, tracking gains on Wall Street. The positive performance on the U.S. benchmark provided a boost to investors in the Asia-Pacific region, encouraging risk-taking across the board.

The market is closely watching the developments at the United Nations, where the possibility of a meeting between the U.S. and Iran had previously offered some relief. However, with those hopes now fading, traders are focusing on the immediate technical support for crude prices.