US Futures Mixed as Oil Prices Surge Back Above $100 Barrel
US stock futures are mixed as Brent crude oil prices surge back above $100 a barrel and bond yields rise. The S&P 500 futures gained 0.2%, while Dow Jones Industrial Average futures fell 0.2%. Nasdaq futures rose 0.6%.
Brent crude, the international standard, jumped 2.1% to $100.10 a barrel, its highest level since early September when tensions between the US and Iran escalated. US President Donald Trump has publicly rejected Iran's proposal to reopen the Strait of Hormuz within a week if certain conditions are met.
The uncertainty surrounding the war with Iran has contributed to oil price volatility in recent months. Iranian officials indicated on Wednesday that they have received an official US response to Tehran's latest proposal, but did not disclose its contents or whether it was a rejection.