Oil edges up as Saudi pipeline returns, US-Iran Hormuz talks show progress

Brent and WTI rose modestly after a sharp five-session selloff, supported by the restart of Saudi Arabia's East-West pipeline and signs of progress in US-Iran negotiations over the Strait of Hormuz. However, unresolved disagreements between Washington and Tehran keep supply risks elevated. The price rebound suggests markets are pricing a reduced near-term disruption risk, but the fragile talks leave the outlook uncertain.