September S&P 500 E-Mini futures (ESU26) are down -0.23%, and September Nasdaq 100 E-Mini futures (NQU26) are down -0.17% this morning, pointing to a lower open on Wall Street as renewed hostilities in the Middle East pushed oil prices higher.
The price of WTI crude climbed nearly +4% on Monday after the U.S. and Iran exchanged strikes for the first time in about a month. U.S. forces struck two Iranian rocket launchers on Sunday that Central Command said were being prepared to deploy mines into the Strait of Hormuz. In response, Iran’s Islamic Revolutionary Guard Corps carried out a missile-and-drone strike on U.S. air bases in Jordan early Monday. Separately, the IRGC said that an unidentified supertanker attempting to transit the southern route through the Strait of Hormuz was hit by two mines. Meanwhile, U.S. President Donald Trump posted an AI-generated video depicting Iran’s Kharg Island being blown up, hours after the U.S. strike.
