Global stocks gain as oil prices ease on Hormuz reopening hopes

Global stock markets edged higher as crude oil prices softened amid growing expectations that shipping traffic through the strategically vital Strait of Hormuz could resume normal operations. The decline in energy prices helped ease pressure on inflation-sensitive assets, allowing bond yields to retreat from recent highs.

The modest rally reflected cautious investor sentiment ahead of crucial economic data and corporate earnings announcements. Markets remain focused on upcoming US inflation figures, which will provide fresh insight into price pressures affecting central bank monetary policy decisions across major economies.

Technology stocks were also in focus, with investors awaiting results from Nvidia, a key indicator of demand in the artificial intelligence sector. The semiconductor company's earnings are closely watched by market participants seeking signals about the health of global technology spending and economic growth prospects.

The Strait of Hormuz, through which a significant portion of global oil supplies pass, has been a focal point for markets concerned about potential disruptions to energy supplies. Any reopening or normalization of traffic through the waterway typically supports lower oil prices, benefiting consumers and reducing inflation risks for economies dependent on energy imports.