Late Tuesday, U.S. stock futures edged higher as oil prices surged after the U.S. military said it intercepted a surprise Iranian missile attack, reviving concerns over Middle East stability and global energy supplies.
US Futures Advance as Oil Prices Rebound
Dow futures rose 63.00 points, or 0.12%, to 53,007.00, while S&P 500 futures gained 26.00 points, or 0.35%, to 7,491.25. Nasdaq 100 futures advanced 132.75 points, or 0.48%, to 28,054.75 as of around 8:38 p.m. EDT.
In commodities, WTI crude oil climbed 3.92% to $82.37 per barrel, while Brent crude gained 3.86% to $87.34 per barrel. Natural gas futures slipped 0.45% to $2.65 per MMBtu.
Meanwhile, the U.S. dollar index, which tracks the greenback against a basket of currencies, stood at 101.388, little changed on the day.
Asian markets traded higher, with South Korea’s KOSPI rising 1.75% to 6,129.17 and Japan’s Nikkei 225 gaining 0.25% to 62,523.66.
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CENTCOM Says All Iranian Missiles Were Intercepted
Oil prices reversed steep losses from earlier in the session after U.S. Central Command, or CENTCOM, said Iran launched multiple ballistic missiles at U.S. forces in the Middle East.
“At 5:45 p.m. ET today, Islamic Revolutionary Guard Corps forces launched multiple ballistic missiles from Iran in an attempted surprise attack on U.S. forces based in the Middle East,” CENTCOM said in a post on X.
“All Iranian missiles were successfully intercepted. U.S. forces remain vigilant and at a high state of readiness.”
At 5:45 p.m. ET today, Islamic Revolutionary Guard Corps forces launched multiple ballistic missiles from Iran in an attempted surprise attack on U.S. forces based in the Middle East. All Iranian missiles were successfully intercepted. U.S. forces remain vigilant and at a high…
— U.S. Central Command (@CENTCOM) July 28, 2026
The statement renewed fears that the conflict could threaten energy supplies from the region, pushing crude prices sharply higher in late trading.
Earlier Diplomatic Hopes Had Weighed on Crude
Before the missile attack, oil had settled sharply lower after Iran held discussions with Saudi Arabia and Oman over security in the Strait of Hormuz, a critical global oil transit route, CNBC reported.
According to Iran’s Foreign Ministry, the talks focused on the need to “eliminate the insecurity imposed on the Strait of Hormuz caused by the aggressive actions” of the U.S.
On Monday, President Donald Trump rejected reports that the U.S. had delayed broader military action because of depleted munitions, telling reporters aboard Air Force One that the military has “plenty” of ordnance.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock/ Mohasseyn
