Dow Jones Futures Flat Amid Oil Price Surge and Fed Rate Fears

The Dow Jones futures remained nearly steady on Wednesday, August 19, as traders weighed the effects of rising oil prices and higher interest rates. The Dow futures index stood at 53,440, up by a mere 0.06% from the previous day's close.

The cautious market sentiment is due to three consecutive losses on Wall Street, with the Dow Jones Industrial Average declining by 116.38 points or 0.22%, to 53,343.40 on Tuesday.

Oil prices continue to be a major concern as Brent crude traded at around $91.26 per barrel and West Texas Intermediate (WTI) was trading at approximately $84.37. The inability of Washington and Tehran to reach an agreement on energy supplies has raised fears about the Strait of Hormuz.