Wall Street trading was muted and oil prices retreated slightly as the United States and Israel carried out a wave of attacks in Iran Monday ahead of U.S. President Donald Trump’s deadline for Tehran to reopen the Strait of Hormuz, the Associated Press reports.
Futures for the S&P 500 and Nasdaq rose 0.1% and 0.3%, respectively, while Dow Jones Industrial Average futures fell 0.2%.
Benchmark U.S. crude dropped $1.40 to $110.14 per barrel. Brent crude, the international standard, lost 45 cents to $108.58 per barrel.Â
Energy markets were closed Friday, but prices have been surging for weeks on fears that the Iran war will drag on longer than expected. U.S. crude is up more than 60% since the war started five weeks ago, while Brent crude is up close to 50%.
