WTI crude swung sharply as traders balanced hopes for renewed U.S.-Iran diplomacy against persistent supply risks from the Strait of Hormuz.

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 edged higher on Thursday as continuous supply disruptions due to the Iran conflict raised concerns over tightening fuel reserves across the globe. Benchmark oil prices…