Iran Strikes Push Oil Prices Higher, Weighing on US Stock Futures

US stock futures fell after Iran's strikes on Larak Island over the weekend lifted crude oil prices and revived Middle East supply risk. The energy sector gained, with Halliburton, Chevron, Valero, and Occidental Petroleum leading the pack.

The S&P 500 Index futures are off by 0.47%, while the Nasdaq-100 Index futures have lost 0.26%. Energy stocks have been bid, but the rest of the market is leaning lower due to higher 10-year Treasury yields and upcoming economic data.

Crude oil prices surged over 3% on Monday morning, with WTI trading above $86 per barrel and Brent above $91. This move has put 'war premium' back into the market after it was pulled out last week.