Mumbai, April 9 -- Crude oil futures rebounded above $98 per barrel in Asian trading, staging a sharp recovery after the prior session's steep selloff, as persistent supply concerns overshadowed ceasefire optimism. Despite the announcement of a U.S.-Iran truce, reports of continued disruption in the Strait of Hormuz-coupled with escalating regional tensions-rekindled fears of a sustained supply shock. The near shutdown of this critical transit route, which facilitates roughly one-fifth of global energy flows, triggered aggressive short covering and a swift reinstatement of geopolitical risk premiums. While a larger-than-expected US crude inventory build briefly weighed on sentiment, the market's focus remains firmly on supply-side vulnerabi...