US Futures Fall as Oil Prices Climb Amid Renewed Middle East Tensions
US stock futures were down on Monday morning as oil prices climbed higher amid renewed tensions in the Middle East. The Dow Jones, S&P 500, and Nasdaq-100 futures were all trading lower ahead of the open.
The recent spike in oil prices comes after US President Donald Trump rejected conditions for a ceasefire from Iran aimed at ending their conflict. This decision has led to a rise in Brent crude and West Texas Intermediate prices, with Brent up 2.89% at $107.34 a barrel and WTI 1.86% higher at $94.13 a barrel.
The US Treasury yields also extended last week's sharp gains, with the benchmark 10-year note up almost seven basis points at 5.234% and the 30-year climbing just shy of four basis points to 5.535%, both trading around multi-year highs.