Oil prices saw an uptick as Iran's refusal to meet U.S. envoys heightened tensions, impacting the fragile ceasefire. Despite recent declines following conflict de-escalation, analysts are revising forecasts. Meanwhile, U.S. crude and gasoline inventories dropped last week, with markets awaiting official government data. Tanker traffic through the Strait of Hormuz is reportedly recovering, easing supply disruption fears.

Oil prices saw an uptick as renewed US-Iran tensions in the Middle East disrupted shipping through the Strait of Hormuz. Despite reports of a potential de-escalation and renewed…

Oil prices rose slightly as hostilities between the United States and Iran continued for a fourth consecutive day, while Iran maintained its insistence on controlling the Strait…