Oil prices rose as traders grew skeptical that U.S.-Iran talks would quickly reopen the Strait of Hormuz and ease the global supply shock.

Oil prices tick higher after a sharp selloff on US-Iran deal optimism. Brent and WTI whipsaw as Strait of Hormuz blockade fears dominate crude markets.

Oil prices saw marginal gains as fresh threats between Iran and the US heightened concerns over the Strait of Hormuz closure. While Iran examines a new US proposal, President…

Brent crude futures rose $1.27, or 1.21 percent, to $106.29 a barrel