Oil prices surged more than 2% as uncertainty over the reopening of the Strait of Hormuz keeps investors cautious. 🛢️

📉 FTSE 100: -0.5%

📉 Nasdaq: -0.3%

➖ S&P 500: Flat

📉 Dow Jones: -0.1%

Meanwhile, markets are now turning their attention to Wednesday’s US July inflation data, which could heavily influence expectations around the Fed’s next interest-rate move.

⚠️ Oil + Inflation + Fed expectations = Potentially big volatility ahead.

Keep an eye on Gold, BTC, Oil and the US Dollar.