June S&P 500 E-Mini futures (ESM26) are down -0.42%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.43% this morning, pointing to a lower open on Wall Street as oil prices surged following a weekend flare-up in U.S.-Iran tensions.
Iran on Saturday closed the Strait of Hormuz once again and opened fire on at least two commercial vessels. Iran’s Parliament Speaker Mohammad Bagher Ghalibaf said that the ongoing U.S. naval blockade is the reason behind the restricted transit through the Hormuz. Meanwhile, the U.S. Central Command said it fired on, boarded, and seized an Iranian-flagged vessel on Sunday while it was heading toward the Iranian port of Bandar Abbas.
