Houthi Attacks

WTI and Brent weakened as traders weighed diplomatic headlines, a sharp fall in gasoline futures and talk of a possible U.S. diesel export ban. Hormuz traffic remains deeply constrained, keeping a supply-risk floor under a market still testing key technical levels.

Silver is pressing back toward a pivotal technical midpoint after lower Treasury yields helped restore demand before the CPI release. Oil near $90 and divided Fed expectations keep the inflation debate unresolved, leaving XAG/USD vulnerable to a fast move in either direction.

Oil markets are weighing heightened Strait of Hormuz supply concerns against a surprise U.S. crude inventory build reported by API. WTI and Brent remain technically constructive, while natural gas holds above its breakout area as traders watch resistance near $2.81.

Gold, oil and the USD Index are entering a decisive stretch as technical signals, month-end behavior and Federal Reserve messaging converge. Energy traders are also weighing severe Strait of Hormuz disruption risks against a recent oil pullback tied to a bombing pause and negotiations.