Oil steadies below USD 78 after strike shock

AP reported Brent slipped to about USD 77.94 at 9:35 a.m. New York time after Wednesday's jump, even as the U.S. launched new Iran strikes and Hormuz supply risk stayed active. Gasoline averaged USD 3.85, up five cents overnight.

Why this matters. The market signal has shifted from panic spike to stubborn risk premium: if tanker traffic holds, prices may cap the shock, but each Gulf alert now has a direct inflation watchpoint.