Oil markets have whipsawed this week as investors parse the chances of a breakthrough between Washington and Tehran that could potentially resume normal shipping through the Strait of Hormuz.

Asian stocks and oil futures were mixed on Tuesday after fresh US strikes on Iran threatened fragile negotiations to reopen the Hormuz strait.

Asian stocks plummet and oil prices react sharply as fresh US strikes on Iran raise doubts about a potential peace deal in the Middle East.

Asian equities retreated from record highs as conflicting signals from the US and Iran on a potential peace deal emerged. Crude oil prices surged as the Strait of Hormuz remained…