U.S. stock futures mixed, oil surges as fresh attacks threaten Iran cease-fire
Wall Street futures opened the week mixed as Brent crude jumped more than 3%, pricing in the risk that the April U.S.-brokered Iran-Israel cease-fire is unravelling. Investors are weighing the chance of a disruption to crude flows through the Strait of Hormuz, while gold extended its weekly advance.
U.S. equity-index futures opened the week mixed, MarketWatch reported, with S&P 500 contracts modestly lower and Nasdaq 100 futures under pressure from tech-led selling. Brent crude climbed more than 3% to trade above $81 a barrel on average, and WTI posted a similar advance.
The driver was weekend attacks between Iran and Israel that risk unwinding the April cease-fire brokered by Washington. Analysts said tanker rates and shipping insurance premiums were beginning to firm for cargoes transiting the Strait of Hormuz, the chokepoint carrying more than 20% of seaborne crude.
Safe-haven flows pushed gold further into positive territory for the week, while the dollar index ticked modestly higher. The U.S. 10-year Treasury yield held in a narrow range as traders balanced inflation worries against expectations of slower growth. This is not investment advice.
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