Crude oil posted a modest gain as traders remained wary over the prospects for a Middle East deal, tempering the mood ahead of crucial US inflation data. Sentiment toward technology stocks remained buoyant, with CoreWeave Inc. shares surging after the company bolstered its outlook.
Brent edged 0.3% higher to $89.10 a barrel, rising for a sixth session. The advance came despite Pakistan’s defense minister saying the US and Iran are “close to some sort of arrangement” over the Strait of Hormuz, while both sides appeared to harden their positions in the long-deadlocked negotiations.
