Oil prices moved higher as skepticism over a potential U.S.-Iran peace agreement undercut hopes for a reopening of the Strait of Hormuz, a vital route for global crude shipments. Brent crude climbed to $89.63 a barrel and West Texas Intermediate rose to $83.91 in early Wednesday trading after attacks on two ships in the Middle East heightened fears of supply-chain disruption. The move reversed earlier weakness that had pushed Brent below $80 on optimism around a deal, underscoring how sharply energy markets are reacting to geopolitical signals. Market pricing also points to a slightly higher probability that crude could reach a new all-time high by September 30. Investors are now watching comments from OPEC and the International Energy Agency for clues on supply expectations, while further incidents in the Strait of Hormuz or shifts in U.S.-Iran relations could drive oil prices later this year.