Rising geopolitical risks in the Middle East push crude prices higher amid stalled negotiations over nuclear programs and shipping routes.
Oil prices climbed on Monday as U.S.-Iran tensions escalated over control of the Strait of Hormuz, a critical global shipping chokepoint. Tehran’s nuclear ambitions and Washington’s opposition have deadlocked talks, challenging market assumptions that conflict would remain contained.
Prior sessions saw crude trade in a narrow range, with investors betting on de-escalation. However, recent military posturing and failed diplomatic efforts have heightened supply disruption fears, reversing earlier calm.
Tech futures gained overnight, led by AI-linked stocks like Nvidia and Dell, as broader risk sentiment showed resilience despite oil’s rise. Nasdaq futures targeted key technical levels amid the mixed macro backdrop.