Oil Eases Back Near $80 as Iran Tensions Cool, Lifting Tech Stocks

Crude oil has retreated toward $80 a barrel as U.S.-Iran tensions ease, reducing fears of Strait of Hormuz disruptions and easing inflation pressures. The pullback from above $100 has tempered expectations for further Federal Reserve rate hikes, supporting a rally in growth-oriented technology names. Snowflake posted 34% product revenue growth to $1.33 billion and raised its full-year outlook, while Salesforce revenue climbed 13% to $11.1 billion with Agentforce ARR reaching $1.2 billion. Oracle’s cloud infrastructure revenue surged 93% amid a $638 billion backlog, though heavy capex leaves it sensitive to borrowing costs. Analysts note that sustained lower oil prices could extend the tech rally unless geopolitical risks resurface.