Oil direction hinges on offsetting forces: incremental supply from the OPEC+ exit narrative versus potential friction in the Strait of Hormuz. Net impact likely volatile but range-bound unless transit disruption materialises.

AI capex concerns from OpenAI appear idiosyncratic for now; hyperscalers like Microsoft and Amazon still anchor demand, though sentiment may soften at the margin.

If Federal Reserve signals policy continuity, modest rotation into duration-sensitive tech is plausible, while maintaining exposure to Singapore financials/REITs for yield stability remains balanced.