Skepticism about a deal to reopen the Strait of Hormuz intensified after the Trump-Xi summit failed to advance a diplomatic solution to the Mideast war.

Heading into the summit, Beijing and Washington will likely reaffirm their shared intention to reopen the Strait of Hormuz and restore stability in the region.

Oil prices edged higher as investors awaited talks between U.S. President Trump and Chinese President Xi Jinping, focusing on economic gains and geopolitical issues like the Iran…