Cotton futures closed sharply higher on Tuesday, with gains ranging from 99 to 299 points and some contracts hitting the three-cent daily limit. Crude oil rose $3.65 after Iran struck vessels in the Strait of Hormuz, prompting the US to revoke waivers for Iranian oil exports, while the US dollar index edged up $0.230. USDA data showed 49% of the US cotton crop was squaring, 2% ahead of normal, and 14% setting bolls, matching the five-year average, though good-to-excellent ratings slipped two percentage points to 46%. May export data from the Census Bureau indicated 1.46 million bales shipped, a three-year high but down 6.88% from a year ago. The Cotlook A Index held steady at 85.80 cents, and ICE certified stocks remained at 185,034 bales.