US-Iran Tensions Send Oil Prices Soaring, Weighing on Stocks
Stocks are set to open lower on Wall Street as renewed hostilities between the U.S. and Iran push oil prices higher.
The price of WTI crude climbed nearly +4% on Monday after the U.S. and Iran exchanged strikes for the first time in about a month.
The conflict has also fueled inflation concerns, with yields on longer-dated Treasuries rising as investors expect higher interest rates from the Federal Reserve.