Commodities
US Markets Mixed as Oil Prices Soar on Hormuz Tensions
US markets are heading into a mixed open on Monday, as oil prices climb due to tensions over the Strait of Hormuz. The futures for the S&P rose 0.2%, while those for the Dow Jones Industrial Average fell 0.14%. Nasdaq futures were up 0.14% before the opening bell.
The price of Brent crude, the international standard, gained 1.4% to $84.68 per barrel, with US benchmark crude advancing 1.4% to $79.30 per barrel.
Iran has insisted that the US meet its demands in negotiations before the Strait of Hormuz reopens, with details emerging on a potential deal between Iran and Oman for managing the strait.