Oil edges up on uncertainty over exports through Hormuz

To avoid ​the Strait of Hormuz, Iraq's cabinet approved mechanisms for exporting Iraqi crude through specialized international and local ‌companies ⁠and via multiple export outlets, the government said on Tuesday., ⁠crude oil and distillate inventories fell, while gasoline stocks rose last week, market sources said on Tuesday, citing data from the American Petroleum Institute.

President Donald Trump said ⁠on Tuesday no talks were taking place with Iran and insisted the Strait ​of Hormuz was open, contradicting Iran's assertion that the critical waterway remained shut ​to shipping.