Oil prices are experiencing fluctuations, with some reports indicating a rise due to concerns over supply risks and US-Iran tensions, while others suggest gains are limited as the market weighs recent military exchanges. There is also mention of oil testing pre-war levels, although the factors driving this are unclear, with optimism over Hormuz and talks cited in some reports, while others point to fears over a US-Iran ceasefire. The overall direction of oil prices appears uncertain, with varying factors influencing the market.