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 climbed on Friday as investors remained uncertain about the prospects of a breakthrough in ongoing US-Iran peace negotiations, while concerns over supply disruptions…