New Delhi, May 22 -- Crude oil prices have been swinging sharply as investors struggle to assess whether the latest Middle East tensions will spiral into a prolonged supply crisis or fade into another short-lived commodity shock.

Crude oil prices had surged above $110 per barrel last week amid fears of renewed military escalation involving Iran and concerns over disruptions through the Strait of Hormuz - one of the world's most critical energy chokepoints. However, prices have since cooled as signs of improving tanker movement through the region eased some immediate supply worries.

However, oil prices rebounded on Friday, 20 May, after three consecutive sessions of losses as fresh comments from Iran on uranium stockpiles and the Strait ...