Asian equity markets were mixed as energy stocks lifted European indexes, while U.S. futures were mostly lower and oil price rose on continued uncertainty over the reopening of the Strait of Hormuz and any peace agreement between Iran and the United States. Iran said it was close to a deal with Oman to reopen the Strait, but set out a number of terms to the United States before that could happen.

European indexes rose in early trading, boosted by energy stocks. The Europe-wide Stoxx 600 gained 0.1%, Germany’s DAX 0.01%, and France’s CAC 40 0.04%, after all closing at new records Monday. London’s FTSE 100 rose 0.03% as BP (+1.5%) and Shell (+1.1%) rallied, supporting the broader gains.

Treasury yields rose and gold remained flat as investors awaited Wednesday’s inflation data, which could signal the direction of interest rates. President Trump posted on Truth Social that Iran must pay compensation for decades of U.S. casualties before any deal, adding that his representatives will put this firmly into all future negotiations.

Asian markets showed varied moves: South Korea’s Kospi rose 0.7%, Singapore’s FTSE Straits Times Index gained 0.5%, and Taiwan’s Taiex rose 0.4%, while China’s Shanghai Composite fell 0.8%.