Battalion Oil Corporation Common Stock (BATL)

WTI hovered near $71 and Brent near $78 after threats to close the Strait of Hormuz.

Investors now await Fed speeches, CrowdStrike and Target earnings, and a week of economic data capped by Friday’s jobs report.

Iran’s Revolutionary Guards commander has reportedly said that the Strait of Hormuz is closed, The Guardian reported. citing Iranian state media.

Data from Stocktwits showed that retail sentiment on SPY has remained ‘bullish’, while it hovered in the ‘bearish’ territory on QQQ.

Brokerages see oil trading between $80 and $90 near-term, with prices potentially higher if disruptions persist, while U.S. gasoline may climb toward $3.10- $3.25.

Gold rallied, bonds firmed, and Asian markets declined amid escalating geopolitical tensions in the Middle East, prompting a flight to safe-haven assets.