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Crude prices rose Wednesday after Yemen's Houthis claimed they had struck a Saudi Arabian oil tanker in the Red Sea.
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William Lawrence defeated two moderate candidates to challenge a vulnerable Republican incumbent, but some worry his views could hurt his chances in November.
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US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent both announced talks had progressed to allow shipments to resume.
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President Donald Trump urged oil giants Exxon and Chevron to slash retail fuel prices.
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Higher oil prices propelled a quarterly earnings jump for Saudi Arabia's energy giant, which used pipelines to work around disruptions in the Strait of Hormuz.
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The price of oil fell sharply on hopes that talks were progressing on reopening the Strait of Hormuz.
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Rick Caruso, the billionaire real estate developer and former Los Angeles mayoral candidate, is reviving a property still surrounded by burned-out lots.
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An attack on a vessel near the Strait of Hormuz and a rebound in oil prices on Tuesday underscored doubts that the U.S.-Iran war was nearing a resolution, as Tehran pushed back against President Donald Trump's assertion that talks were under way.
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