Energy markets are rattled as U.S. gas prices hit their highest levels since July 2024 amid Middle East tensions and supply risks in the Strait of Hormuz. Oil volatility surged after conflicting signals from the Energy Department, while AI momentum lifted Nvidia (NVDA), Chinese ADRs, and Oracle (ORCL) following strong earnings. Markets now turn to the upcoming CPI report to assess how rising energy pressures could shape Fed policy.