Markets climbed on Friday as hopes of a breakthrough in US-Iran negotiations steadied investor nerves, but with Hormuz shipping still disrupted and oil above $100, uncertainty has far from lifted.

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…