Asian equities were poised for gains as oil prices pulled back, lifting sentiment after a positive session on Wall Street. The retreat in crude markets came amid hopes that more tankers could soon navigate the Strait of Hormuz, easing supply concerns. Energy stocks across the region were expected to benefit from the decline in oil prices, which had previously weighed on market sentiment.

Investors welcomed the potential for improved shipping flows through the critical waterway, a key route for global oil transport. The Strait of Hormuz handles about 20% of global oil shipments, making any disruption a major market concern. The pullback in oil prices provided relief to markets already grappling with inflation worries and geopolitical tensions.

The positive momentum in Asia followed a strong close on Wall Street, where technology and consumer discretionary shares led gains. Market participants are now watching for further developments in the Middle East that could impact oil supply routes and broader market sentiment.