Oil prices steady after 5% jump; Asian shares mixed

Oil prices remained steady on Tuesday after a sharp 5% jump the previous day, as markets continued to weigh the uncertainty surrounding the reopening of the Strait of Hormuz. Brent crude held at $87.72 per barrel, while the US benchmark was flat at $82.13.

Asian shares were mixed in Tuesday trading. South Korea's Kospi rose 1.5%, boosted by a 4.6% gain in Samsung Electronics, while Hong Kong's Hang Seng fell 0.6%. The Shanghai Composite slipped 0.1%, and Australia's S&P/ASX 200 gained 0.5% after the Reserve Bank of Australia kept its benchmark rate unchanged at 4.35%. Tokyo markets were closed for a holiday.

US futures edged higher, but Wall Street's recent rally has slowed. The S&P 500 slipped 0.1% on Monday from its record high, with the Dow and Nasdaq also dipping. Earnings reports remain strong, with S&P 500 companies on track to show a 50% year-over-year profit increase for the spring quarter.

In corporate news, Berkshire Hathaway gained 1.5% after reporting better-than-expected profits, while MarineMax jumped 46.1% on a $1.5 billion buyout deal. Varex Imaging surged 48.8% after Teledyne Technologies announced its acquisition. Intel fell 4.1% on plans to sell $15 billion in stock.

Investors are now looking ahead to Wednesday's US inflation report, which is expected to show a slight cooling to 3.4% from 3.5% in June. A softer reading could ease pressure on the Federal Reserve to raise interest rates.

In currency and commodity markets, the dollar slipped to 159.19 yen, the euro was unchanged at $1.1544, and gold rose 1.2% to $4,472.90 per ounce.