Oil Price Steadies as Markets Eye CPI and SpaceX IPO

Oil prices are holding steady on Wednesday as broader markets show little direction. Despite a recent flare-up in tensions between Iran and the US, which included strikes on both sides, the oil market has not reacted with a spike. Brent crude continues to trade below $92 per barrel.

Traders are currently focused on the upcoming US Consumer Price Index (CPI) release, which could influence Federal Reserve policy expectations. Additionally, reports of a possible SpaceX IPO are drawing attention, though no official details have been confirmed. The combination of geopolitical risk and key economic data has left markets in a wait-and-see mode.