Stock futures were mostly down as oil rose after the U.S. and Iran exchanged strikes over the weekend .
"Reports of damage to vessels, intercepted missiles and drones, and strikes on military and energy-linked sites across the Gulf underscore the widening scope of the conflict," Deutsche Bank said. "Oil markets have reacted."
Oil prices surged more than 3.5% after the fresh strikes, approaching $79 a barrel.
" Brent and WTI could climb further
if tensions threaten tankers, ports or production, but credible negotiations and stable shipping flows would quickly remove part of the risk premium,"
