The market could tighten again, and prices could rise anew — and plenty depends on security in the Strait of Hormuz.

Oil edged higher on Monday after renewed military strikes between the U.S. and Iran reignited concerns over crude supplies from the Middle East.

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…