Oil futures climbed in early trading, signaling a potential technical rebound after sharp overnight declines. The Wall Street Journal reports President Trump indicated willingness to end the Iran conflict without reopening the Strait of Hormuz, though the channel remains closed. Fawad Razaqzada, a market analyst at FOREX.com, emphasized the persistent global energy shock, stating Iran will ensure it doesn't abate. Front-month WTI crude oil futures rose 0.4% to $101.76 per barrel, while Brent futures increased 0.1% to $104.03.

This technical bounce reflects market optimism about conflict resolution, though analysts caution the Strait's closure sustains supply concerns.