Oil prices moved sharply higher on Tuesday, amid dwindling hopes of a U.S.-Iran deal to fully reopen the Strait of Hormuz, despite Washington's fresh efforts to boost fuel flows. U.S. West Texas Intermediate futures were 2.7% higher at $84.36 a barrel at 4:30 a.m. ET, at their highest…This story appeared on cnbc.com , 2026-08-11 09:12:25.