Brent crude futures were up 6 cents, or 0.1%, at $92.16 a barrel, while U.S. West Texas Intermediate crude was up 15 cents at $85.12. Both contracts fell more than 2% on Monday, with U.S. crude touching a one-week low as investors took profits following a rally over the previous two weeks.

Crude oil price has held steady in the past few days as Iran plots escalation ahead of US sanctions that will be announced on Monday.

Oil prices fell more than one dollar on Monday as investors took profits and awaited expected new U.S. sanctions on Iran.