U.S. stock index futures fell on Tuesday as investors assessed the fallout of U.S. and Israeli strikes on Iran and the repercussions it could have on inflation and global trade.

Global investors reacted to the weekend strikes in the Middle East by selling U.S. stocks in futures markets. Some assets may benefit, however.

Oil futures on Monday jumped by over 8%, with West Texas Intermediate futures and Brent trading at $72.52 and $79.04 per barrel respectively.