Dow Futures Plunge Almost 500 Points, Oil Spikes To $104 As Trump Threatens Strait Of Hormuz Blockade Amid Failed US-Iran Talks

Late Sunday, U.S. stock futures slid sharply while oil prices surged after escalating tensions between Washington and Tehran raised fears of a major global energy supply disruption.

Markets Slide As Oil Prices Surge On Supply Fears

Dow futures fell 479.00 points, or 1.00%, to 47,650.00, while S&P 500 futures declined 67.25 points, or 0.98%, to 6,788.00 and Nasdaq 100 futures slipped 280.50 points, or 1.11% as of 8:31 p.m. EDT.

In commodities, WTI crude rose 8.29% to $104.58 per barrel, while Brent crude gained 7.97% to $102.79 per barrel.

RBOB gasoline futures climbed 4.84% to $3.1844 per gallon and ULSD heating oil futures advanced 8.89% to $4.0959 per gallon.

Natural gas futures rose 1.81% to $2.696 per MMBtu.

Meanwhile, the U.S. dollar index was at 99.043, up 0.35%.

Asian markets were lower, with Japan's Nikkei 225 falling 0.68% to 56,536.64, while South Korea's KOSPI declined 1.30% to 5,782.72.

Trump Escalates Pressure With Blockade Threat

Earlier on Sunday, Donald Trump said that the U.S. Navy would begin efforts to block ships ...

Full story available on Benzinga.com