Oil prices hold weekly gains as traders turn cautious over Strait of Hormuz reopeningIran says US must meet conditionsNo direct US-Iran talks, says TehranOil prices stayed near their highest level in more than a week on Tuesday as hopes of a US-Iran deal to end their war and reopen the Strait of Hormuz weakened. "Of course, this does not mean the opening of the Strait of Hormuz. This agreement may be reached, but the opening of the Strait of Hormuz is subject to a series of conditions. "Meanwhile, the ongoing geopolitical circumstances have kept oil prices volatile amid concerns of energy supply crunch. However, even as prices continue to rise, the spike is far lower than seen in the earlier phase of the conflict, when crude soared to $126 per barrel.