Oil Prices Edge Higher Amid Uncertainty Over Hormuz Exports

Oil prices edged higher in early trade on Wednesday, marking a fourth consecutive day of gains due to uncertainty over exports through the Strait of Hormuz.

The Brent crude futures climbed 26 cents, or 0.29%, to $91.28 by 0004 GMT, while US West Texas Intermediate crude futures were up 37 cents to $85.31 a barrel.

This upward trend comes as investors weigh conflicting messages from Tehran and Washington on the status of the critical waterway. On Tuesday, US President Donald Trump stated that no talks were taking place with Iran and insisted the Strait of Hormuz was open, contradicting Iran's assertion that it remained shut to shipping.

A temporary ceasefire agreement expired on Monday, and a senior Iranian official told Reuters that his country was moving to a 'fully offensive' military posture due to the diplomatic stalemate. However, there were no reports of fresh strikes by either side on Tuesday.