Geopolitical tensions in the Middle East drive crude prices higher while US equity futures retreat ahead of the open.
US stock index futures declined in early trading as investors weighed escalating tensions between Iran and Western allies. S&P 500 futures fell 0.3%, while Nasdaq 100 contracts slipped 0.4%, reflecting cautious sentiment before the cash session open.
Oil prices climbed, with Brent crude rising 1.2% to $88.50 a barrel, extending gains from the previous session. The move follows reports of Iranian military activity and potential disruptions to regional supply routes, amplifying concerns over energy market stability.
Safe-haven assets saw modest demand, with gold edging higher and Treasury yields holding steady near 4.2%. Market focus remains on developments in the Middle East and their potential impact on global trade flows.