Trump Says Iran's Doing 'Poor Job' Over Strait Of Hormuz: Oil Spikes, Dow Futures Slip

Late Thursday, the U.S. stock futures edged lower as oil prices surged above $98 per barrel. This comes amid rising geopolitical tensions tied to the Strait of Hormuz and renewed diplomatic activity involving Israel and Lebanon.

Markets Dip As Oil Prices Jump On Supply Concerns

Dow futures fell 40.00 points, or 0.08%, to 48,376.00, while S&P 500 futures declined 3.50 points, or 0.05%, to 6,859.75 and Nasdaq 100 futures slipped 5.25 points, or 0.02% as of 8:42 p.m. EDT.

In commodities, WTI crude rose 0.65% to $98.51 per barrel, while Brent crude gained 0.83% to $96.72 per barrel.

RBOB gasoline futures climbed 0.88% to $3.0272 per gallon and ULSD heating oil futures advanced 0.95% to $3.9745 per gallon.

Natural gas futures edged up 0.22% to $2.676 per MMBtu.

Meanwhile, the U.S. dollar index was at 98.918, up 0.12%.

Asian markets were higher, with Japan’s Nikkei 225 rising 1.61% to 56,795.34, while South Korea’s KOSPI advanced 1.69% to 5,875.66.

Trump Warns Iran Over Strait of ...

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