Oil Surges, Equities Fall as US-Iran Conflict Escalates

Renewed military conflict between the U.S. and Iran over the weekend has driven oil prices higher and led to a decline in U.S. stock futures and European equities. Brent crude rose to $92.46 a barrel, and WTI crude gained to $86.53 a barrel, amid concerns about potential supply disruptions in the Strait of Hormuz. The geopolitical tensions are contributing to a risk-off sentiment in markets.