Global markets posted modest gains as equities advanced despite concerns over energy supplies. West Texas Intermediate crude closed above $100 per barrel, reflecting growing anxiety about global oil availability. The S&P 500 eked out small gains as investors weighed inflation fears against positive economic data. Trading volumes remained light as participants awaited clearer signals on monetary policy direction.

Market attention centered on the Strait of Hormuz, where tanker traffic remains largely paralyzed. This critical waterway handles about 20% of global oil shipments, with disruptions likely to tighten already constrained supplies. The shipping bottleneck comes as OPEC+ maintains production limits, exacerbating concerns about market tightness. Energy stocks outperformed as companies positioned themselves to benefit from higher prices.

The combination of elevated oil prices and supply disruptions creates a challenging environment for consumers and businesses alike. Transportation costs continue to rise, potentially feeding into broader inflationary pressures. Investors will monitor whether the modest stock advance can persist against this backdrop of energy market volatility. Market participants remain divided on whether central banks can navigate these supply-side challenges without triggering a deeper economic slowdown.