Oil futures rise after U.S., Iran trade fire; stock futures quiet after court rejects Trump's tariffs

Oil futures moved higher after the U.S. and Iran exchanged fire in the Persian Gulf, reflecting a risk-off reaction to escalating geopolitical tensions. U.S. stock-index futures were little changed, while a federal court struck down President Trump's backup tariff plan, adding uncertainty around trade policy and tariffs. The combination points to broader market sensitivity to Middle East conflict and trade-related legal developments.

Analysis

Oil futures moved higher after the U.S. and Iran exchanged fire in the Persian Gulf, reflecting a risk-off reaction to escalating geopolitical tensions. U.S. stock-index futures were little changed, while a federal court struck down President Trump's backup tariff plan, adding uncertainty around trade policy and tariffs. The combination points to broader market sensitivity to Middle East conflict and trade-related legal developments.