The tug of war between de-escalation hopes in the Strait of Hormuz and a surprise build in US crude stocks looks set to keep oil choppy and directionless in the near term. Conversely, continued Houthi attacks on Saudi tankers and disruption to Black Sea and Caspian export routes provide a floor under prices and keep volatility elevated. Traders will be watching Friday as a potential deadline for a Hormuz announcement, with sentiment likely to swing hard on headline risk either way. ---Oil markets are caught between fading war risk in the Gulf and a surprise inventory build, with a possible Hormuz deal looming as soon as Friday. CNN cited a Gulf official putting the odds of a US-Iran deal by Friday at roughly even.