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Traders are preparing for a bumpy open to the week as a continued standoff around the Strait of Hormuz revives the uncertainty that Wall Street had been eager to look past, after a week that drove the S&P 500 Index to a record and pushed oil back toward $90 a barrel.
Source
Bloomberg Markets
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Crude oil prices surged Sunday, as the U.S. and Iran teetered on the brink of a renewed war after attacks on commercial ships in the Strait of Hormuz.
Oil climbed, the dollar rose and US equity futures slipped as risk sentiment soured following a renewed flare-up in US-Iran tensions over the weekend and a continued standoff around the Strait of Hormuz.
Oil and natural gas prices soared after the US Navy seized an Iranian ship during a chaotic weekend that saw Tehran firing at vessels and reimposing controls in the Strait of Hormuz.
