Oil steady near $80, long-end yields push higher after CPI

European trading was quiet Thursday. Markets took a slower session to digest Wednesday's US CPI report and the latest headlines on US-Iran tensions.

Oil prices held near $80 a barrel. WTI crude was up 0.6% to $79.85, supported by the Middle East risk premium.

The US dollar recouped some of its post-CPI losses. EUR/USD was flat at 1.1418, off from around 1.1440 earlier. USD/JPY inched up 0.1% to 162.35.

The bond market drew more attention. Short-term yields stayed lower: the 2-year yield was at 4.21%, down from a high near 4.30% on Wednesday. Long-end yields climbed back. The 10-year rose to 4.61%; the 30-year reached 5.12%.

US equity futures held calm. S&P 500 futures added 0.1%; Nasdaq futures rose 0.4%.

Precious metals gave back some of the prior session's gains. Gold fell 0.5%; silver dropped 1%.

The next scheduled data is the US producer price index for June, due at 8:30 a.m. ET Thursday.