Oil futures rose Friday morning as conflicting statements from Tehran and Washington, D.C., cast doubt on the progress of peace talks aimed at ending a conflict that has led to the largest oil supply disruption in history.

Crude and product futures reversed course to settle lower Thursday as reports that the U.S. and Iran were close to a deal to reopen the Strait of Hormuz conflicted with statements by Tehran that it was not ready yet for a peace agreement.

Oil futures rebounded Thursday morning on reports that Iran's supreme leader had issued a directive ordering that the country's enriched uranium should not be sent abroad. Storing the fissile material outside of the country has been a key U.S. demand in peace negotiations.

Crude and product futures tumbled their most in two weeks Wednesday on reports of more tanker traffic on the Strait of Hormuz as European governments were said to be in direct negotiations with Iran to secure safe passage for vessels navigating the waterway.

Oil futures extended their decline Wednesday morning on hopes of a detente in the U.S.-Iran war and of a sooner-than-expected resumption of flows from the Middle East.

Crude futures settled little changed Tuesday amid reports of a NATO deployment planned for the Strait of Hormuz and U.S. President Donald Trump's remarks that he will prioritize diplomacy for now over resuming attacks on Iran.

Oil futures edged lower Tuesday morning after U.S. President Donald Trump said he had put on hold planned Tuesday attacks on Iran amid the current ceasefire.