Saudi Aramco CEO Amin Nasser said fewer than 6 billion barrels remain, mostly unusable, after more than 1 billion barrels were released this year. The IEA is preparing another 100-million-barrel release, as the turmoil could extend beyond next year.

The dollar index steadied near 102 as softer PCE and jobs data pushed the probability of a Fed hold to nearly 80%. However, rising oil prices and intensified Iranian tanker attacks around Hormuz kept inflation and rate concerns in play before the Fed minutes.

The US 10-year yield held around 5.31%, near a 24-year high, despite softer data and expectations for a Fed hold. 

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