Investing.com -- The upcoming initial public offerings of Anthropic, OpenAI and SpaceX are likely to weigh on markets in the near term, according to Steve Brice, global chief investment officer of wealth solutions at Standard Chartered.

"There's going to be some digestion challenges of these IPOs coming through the market, and some of the broadening out usually does take place well, but it doesn't necessarily happen in a totally smooth fashion," Brice said on CNBC's "Access Middle East" program on Tuesday.

Brice said he isn't "super, super bullish at this point."

"We could see some weakness at some point over the summer months, and maybe that would fit into what's happening in the Middle East as well," he said.

Over the longer term, any potential weakness could present a buying opportunity, Brice added.

Market sentiment may be supported by expectations that upcoming U.S. labor data will be relatively strong, Brice said. That strength could give way to weakness if the Strait of Hormuz isn't open by the end of summer, he added.

Oil prices have risen sharply as the Trump administration blockades Iranian ports, while the Strait has been closed by Tehran.

"Inventories are being run down at a rapid pace, not just in physical crude, but also across petrochemicals or urea and different inputs into the production cycle around the world," Brice