Oil gains over 2% as market weighs Iran war supply risks

Core Viewpoint - Oil prices increased by more than 2% in early trading on Tuesday, recovering some losses from the previous session due to supply concerns related to the Strait of Hormuz being mostly shut and U.S. allies declining to send warships to assist tankers in this critical waterway [1] Group 1 - Oil prices rose over 2% in early trade on Tuesday [1] - The increase in oil prices is attributed to worries about supply disruptions [1] - The Strait of Hormuz is mostly shut, impacting oil transportation [1] Group 2 - U.S. allies are rebuffing calls to send warships to help tankers [1] - The situation in the Strait of Hormuz is critical for oil movement [1]