Strait of Hormuz Tensions Flare Again as US Strikes Iran Over Attack on Ships: Oil Climbs, Dow Futures He

Late Tuesday, U.S. military strikes on Iran renewed fears of a wider Middle East conflict, sending oil prices higher and weighing on equity futures as investors monitored the security of the Strait of Hormuz, one of the world’s most critical energy shipping routes.

Oil Prices Rise As Markets Turn Cautious

Dow futures fell 66.00 points, or 0.12%, to 53,131.00, while S&P 500 futures edged up 0.25 points, or 0.00%, to 7,551.50 and Nasdaq 100 futures gained 60.00 points, or 0.20%, to 29,451.50 as of around 8:30 p.m. EDT.

In commodities, WTI crude oil rose 2.90% to $72.48 per barrel, while Brent crude climbed 2.67% to $76.14 per barrel. Natural gas futures advanced 0.46% to $3.28 per MMBtu.

Meanwhile, the U.S. dollar index, which tracks the greenback against a basket of currencies, stood at 101.117, little changed on the day.