Escalation of U.S.-Iran Conflict Drives Oil Prices Up and Stock Futures Down

Stock futures are sliding and oil prices are surging following reports of U.S. forces striking Iranian rocket launchers near the Strait of Hormuz on Sunday, with Iran retaliating against U.S. military bases. Brent crude rose 2.86% to $92.46 a barrel, and WTI crude gained 3.12% to $86.53 a barrel, as investors assess the potential impact on global oil supplies. This geopolitical tension is a persistent headwind to risk assets.