2335 GMT — Oil edges higher on fading hopes for the reopening of the Strait of Hormuz. The Trump administration has told mediators it has no interest in returning to the terms of a preliminary deal it reached with Iran, which later fell apart. This comes after Iran and Oman reached an agreement on revenue sharing on Hormuz earlier this week, raising hopes that the waterway would reopen to vessels shipping oil, ANZ Research analysts say in a note.

Prospects of an agreement on reopening the strait have faded, they add. Front-month WTI crude oil futures are 0.1% higher at $83.59 a barrel.