
March S&P 500 E-Mini futures (ESH26) are trending down -0.09% this morning, swinging between gains and losses as uncertainty surrounding the Middle East conflict remains high, while investors await key U.S. inflation data.
The Middle East conflict shows no signs of easing. The price of WTI crude rose more than +4% after the UK Navy said three vessels were attacked in the Strait of Hormuz and the Persian Gulf on Wednesday, underscoring ongoing disruption to shipping. Also, U.S. Central Command said in a statement late Tuesday that American forces destroyed 16 Iranian mine-laying ships near the Strait of Hormuz. This follows President Trump’s warning to Iran that placing mines in the strait would trigger military consequences “at a level never seen before.”