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(Bloomberg) — US stock futures fell in cautious trading as an escalation in the Middle East pushed oil prices higher, adding to an already difficult inflationary backdrop.
Brent crude advanced toward $98 a barrel following the largest exchange of tanker attacks yet between Iran and the US. Traders also assessed reports of hits on Saudi Arabian oil infrastructure on the Red Sea and a potential accord between Iran and Oman to manage shipping through the Strait of Hormuz.
