Oil prices turned to a gain Friday after Iran poured cold water on growing market hopes for a near-term agreement with the United States

By Isabel Wang and Myra P. Saefong

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.

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