March S&P 500 E-Mini futures (ESH26) are down -0.15%, and March Nasdaq 100 E-Mini futures (NQH26) are down -0.14% this morning, giving up earlier gains driven by President Trump’s remarks on the Iran war as Treasury yields climbed.
The price of WTI crude slumped over -4% on Tuesday, adding to the prior session’s declines after President Trump said the war in Iran could end “very soon.” President Trump also said he would ease oil-related sanctions and promised that the U.S. Navy would provide escorts for oil tankers transiting the Strait of Hormuz. He pledged to bomb “at a much, much harder level” if Iran were to disrupt oil supplies. Oil prices pared some of their losses after Iran’s state-run broadcaster reported an explosion involving an oil tanker near Abu Dhabi.
