Oil Prices Surge and Global Equities Decline Amid Escalating US-Iran Tensions

Crude oil futures surged over 4% on Monday, July 13, 2026, with Brent crude approaching $80 a barrel, following fresh missile strikes between the United States and Iran and renewed concerns about disruptions in the Strait of Hormuz. This escalation in geopolitical conflict triggered a risk-off sentiment across global markets, leading to declines in Asian equities and skidding U.S. stock futures.