Oil Jumps $97, Dow Futures Dip 42 Points; Iran Accuses US Of Violating Truce: 'In Such Situation … Ceasefire Or Negotiations Is Unreasonable'

Late Wednesday, U.S. stock futures edged lower while oil prices surged toward $100 as tensions flared over a fragile ceasefire between Washington and Tehran.

Markets Slip As Oil Prices Surge On Geopolitical Tensions

Dow futures fell 42.00 points, or 0.09%, to 48,102.00 as of 9:01 p.m. EDT.

S&P 500 futures declined 12.00 points, or 0.18%, to 6,811.75, while Nasdaq 100 futures dropped 59.50 points, or 0.24%, to 25,014.75.

In commodities, WTI crude rose 3.28% to $97.51 per barrel, while Brent crude gained 2.98% to $97.57 per barrel.

RBOB gasoline futures climbed 1.21% to $3.0424 per gallon and ULSD heating oil futures advanced 2.84% to $3.9165 per gallon.

Natural gas futures edged up 0.40% to $2.735 per MMBtu.

Meanwhile, the U.S. dollar index was at 99.112, up 0.12%.

Asian markets were lower, with Japan's Nikkei 225 falling 0.48% to 56,035.34, while South Korea's KOSPI declined 0.66% to 5,833.67.

Iran Accuses US Of Violating Ceasefire Terms

In a post shared on X, Iranian parliamentary speaker Mohammad Bagher Ghalibaf said Washington had a "pattern" of breaking commitments, adding that "in such situation, a bilateral ceasefire or negotiations is unreasonable."

He cited continued Israeli strikes in ...

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