Oman

WTI and Brent pulled back as diplomacy around the Strait of Hormuz reduced the immediate geopolitical premium in crude prices. Still, limited flows, refinery disruptions and tight diesel inventories are keeping volatility elevated across the oil market.

Nvidia’s more than $500 billion data-center financing framework has strengthened the early bid in technology shares and helped steady broader index sentiment. Still, oil-market uncertainty around the Strait of Hormuz remains a key risk for the Nasdaq, S&P 500, and Dow as traders weigh inflation pressure and rate expectations.

Oil prices remained under pressure as progress in Iran Oman talks reduced some supply risk premium while rising US crude inventories added to bearish sentiment. Technical traders are watching whether WTI can defend the $74–$75 zone and whether Brent can hold above $80–$81.

Natural gas remains rangebound as traders await the next EIA storage update, with $2.70 still capping near term momentum. WTI oil is hovering near $75 as markets weigh Iran Oman Strait of Hormuz headlines, while Brent attempts to recover after a sharp pullback.