Oil gains after selloff, awaits progress on Strait of Hormuz flows

Oil prices saw a slight rebound Tuesday, recovering from Monday's sharp decline. This uptick follows tempered optimism surrounding U.S.-Iran peace talks and a potential easing of tensions in the Strait of Hormuz. Investors are cautiously awaiting concrete signs of restored crude flow through the vital waterway, with market skepticism remaining due to deep-seated mistrust between the nations. Recent tanker movements suggest a gradual normalization of traffic.