Oil futures rose, rebounding after three straight sessions of declines as the market watched for progress toward reopening the Strait of Hormuz.

Oil futures fell midday Tuesday as signs of diplomatic progress between the U.S. and Iran eased fears of immediate military escalation in the Middle East.

Aug 27 : Oil prices rose on Thursday after falling earlier in the session as investors weighed prospects for progress in reopening the Strait of Hormuz and broader Middle East…