The recent uptick follows last week's increase of more than 7% in oil prices as prospects for resolving tensions in the Strait of Hormuz diminished. Talks between Donald Trump and Chinese President Xi Jinping, held last week, concluded with no sign that China, the world's largest oil buyer, would step in to help ease tensions sparked by US-Israeli strikes on Iran. Meanwhile, drone strikes targeting the UAE and Saudi Arabia, along with increasingly sharp statements from both Washington and Tehran, fuelled wo ...