The United States will loan 53.3 million barrels of oil from its Strategic Petroleum Reserve, marking another significant release from the nation's emergency oil stockpile. The move comes as gas prices continue to impact American consumers and markets await key inflation data.

Turkey is set to receive its first shipment from the US emergency oil release, though specific timing and allocation details were not immediately disclosed. The decision represents part of a broader effort to address energy market pressures through strategic reserve deployments.

Markets are closely monitoring developments in the Strait of Hormuz, where an oil tanker that had exited the critical shipping lane came to a halt in the Gulf of Oman. The situation has contributed to ongoing concerns about Middle East tensions and their potential impact on global energy supplies.

Gold prices remained steady as traders assessed both the Middle East tensions and upcoming US inflation data expected Tuesday. The inflation reading is anticipated to show prices at nearly a three-year high, adding to economic uncertainties facing policymakers and investors.

The strategic oil release comes as energy markets continue to grapple with supply concerns and geopolitical tensions. The Strategic Petroleum Reserve has been used multiple times in recent years to help stabilize domestic fuel prices during periods of market volatility.