Oil Prices Soar as Mideast Violence Escalates Ahead of Fed Decision

US markets are experiencing mixed results ahead of the Federal Reserve's decision on interest rates. The S&P 500 futures gained 0.2% in premarket trading, while Dow Jones Industrial Average futures lost 0.3%. Meanwhile, Nasdaq futures rose 0.3%. The turmoil is likely due to ongoing violence in the Middle East.

Oil prices have jumped more than 4% following a missile barrage launched by Iran against American forces in the region. This incident led to joint action from Jordan and the US to take down the missiles.