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Oleksandr Pylypenko

S&P Futures Slip as Oil Prices Rise on Kharg Island Takeover Report

Oil Kharg Island United States Middle East US Federal Reserve ECB Governing Council Micron Technology Mining Tesla Inc.

March S&P 500 E-Mini futures (ESH26) are trending down -0.40% this morning as oil prices continued to rise amid waning hopes of de-escalation in the Middle East conflict.

Sentiment took a hit on Friday after Axios reported that the U.S. is weighing plans to take over Iran’s Kharg Island, the Islamic Republic’s key oil-export hub, to pressure Tehran into reopening the Strait of Hormuz.

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