US Futures Rise as Oil Prices Fall Amid Middle East Tensions
US futures rose on Friday as oil prices declined despite escalating tensions in the Middle East. The S&P 500, Dow Jones Industrial Average, and Nasdaq all increased by 0.6%. This comes as investors await a crucial inflation report that could influence the Federal Reserve's decision on short-term interest rates.
Yemen's Houthi rebels captured a strategic island in the Bab el-Mandeb Strait, threatening oil exports through one of the world's key commercial lanes. Saudi oil production fell to a three-decade low last month due to Houthi attacks on its energy facilities.
Oil prices eased on Friday but are up around 8% for the week on renewed fighting. Brent crude, the international standard, was 3.6% lower at $103.74 per barrel after earlier rising above $108.