Oil prices rebounded back to $100 on Tuesday while stock markets were mixed and the dollar firmed after US military strikes on Iran deflated hopes of an imminent deal to reopen the Strait of Hormuz.

Oil prices fell sharply as traders priced in growing hopes that a U.S.-Iran deal could reopen the Strait of Hormuz and ease the global supply shock.

Oil prices tumbled over 5% on Monday, falling below the $100 per barrel mark, buoyed by optimism over a potential agreement aimed at ending the US-Iran war. The market reaction…

It was a ‘messy’ morning for global markets, an analyst says