Oil futures rise in early Asian trade on a possible technical recovery after the futures posted their sharpest quarterly drop since 2020 on Tuesday. Oil futures may also be supported by uncertainty over control of the Strait of Hormuz, a key waterway through which one-fifth of the world's oil is typically transported. This control remains a "contentious" issue, ANZ Research analysts say in a research report. "Iran reiterated its determination to control maritime traffic, raising the stakes" at the U.S.-Iran talks in Doha, the analysts add. Front-month WTI crude oil futures are 0.8% higher at $70.06 per barrel. (ronnie.harui@wsj.com)