Iran and Oman announced discussions on establishing a "joint temporary shipping lane" in the Strait of Hormuz and agreed to clear mines from the strait, rekindling hopes for a breakthrough in the nearly six-month-long conflict. As a result, Brent crude futures fell for a third consecutive session on Wednesday, dropping nearly 3% to $85.95 per barrel, due to expectations of increased oil supply through the strait. Additionally, investors are awaiting US inflation data and NVIDIA's earnings report, with global equities showing slight gains and short-term bond yields moving lower. NVIDIA's stock has risen 14% this year, and options data suggests its post-earnings stock fluctuation may be less than usual, indicating increased earnings predictability.