Oil Prices Hold Steady Amid Strait of Hormuz Uncertainty

Oil prices held steady on Tuesday after surging 5% on Monday due to uncertainty over the Strait of Hormuz's reopening. Brent crude gained 1.5% to $89.01 a barrel, while U.S. benchmark crude picked up 1.7% to $83.54 a barrel.

Asian shares were mixed, with South Korea's Kospi gaining 0.7% and Samsung Electronics jumping 4.1%. However, Hong Kong's Hang Seng lost 1%, and the Shanghai Composite index gave up 0.9%.

The recent rally in U.S. markets has slowed, with the S&P 500 slipping 0.1% from its record set on Friday. Earnings per share are expected to show a 50% leap in the spring from a year earlier for companies in the S&P 500, according to FactSet.

Berkshire Hathaway gained 1.5%, while Intel fell 4.1% after announcing it may sell $15 billion of its stock. The main event for Wall Street this week will be Wednesday's update on inflation in July, which is expected to slow to 3.4% from 3.5% in June.