Oil rises and stock futures slip on US-Iran tensions
Oil prices climbed over 2% to $96.8 a barrel and S&P 500 futures edged lower after the U.S. and Iran traded fire near the Strait of Hormuz. The incident threatens a month-long ceasefire while investors await U.S. non-farm payrolls data and a visit to Tokyo by Treasury Secretary Scott Bessent.
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West Texas Oil rose 2% to $96.80 a barrel after the United States and Iran exchanged fire in the Strait of Hormuz. The confrontation threatens a month-long ceasefire and follows record highs for Japanese equities. Geopolitical tensions are pressuring equity futures and lifting the dollar as investors await American labor data.
