On Sunday, Iran warned of a tougher military response to any further U.S. attacks as sanctions and an oil blockade deepen pressure on its economy, while renewed tensions around the Strait of Hormuz push Brent above $96.
Dow, S&P 500 Futures Slip as Oil Prices Rise
Late in the day, Dow futures fell 147 points, or 0.28%, to 53,293.00, while S&P 500 futures slipped 2 points, or 0.03%, to 7,720.00.
Nasdaq 100 futures rose 37 points, or 0.13%, to 29,602.25 as of around 10:49 p.m. EDT.
In commodities, WTI crude oil rose 0.59% to $92.02 per barrel, while Brent crude advanced 0.53% to $96.79 per barrel. Natural gas futures fell 1.78% to $2.922 per MMBtu.
Meanwhile, the U.S. dollar index, which tracks the greenback against a basket of currencies, stood at 99.196, up 0.04% as of around 8:30 a.m. IST.
Asian markets traded higher, with South Korea’s KOSPI rising 3.11% to 6,895.43, while Japan’s Nikkei 225 climbed 2.21% to 66,460.11.
Iran Warns of Tougher Retaliation as Conflict Escalates
Iranian Parliament Speaker Mohammad Baqer Qalibaf said Sunday that Tehran would respond more aggressively to any attack on its interests and security, Reuters reported.
“From now on, any attack against Iran’s interests and security will receive a faster, heavier and more painful response,” Qalibaf said in a speech published on his Telegram channel.
The warning followed renewed hostilities after a period of relative calm. U.S. Central Command said it struck three Iranian tankers Saturday after Iran’s Islamic Revolutionary Guard Corps launched ballistic missiles at two U.S. Navy ships.
Iran has also said it plans to establish a restricted zone outside the Strait of Hormuz, with vessels entering the area potentially facing sanctions.
US Sanctions Squeeze Iran’s Economy
Washington’s sanctions and blockade are putting increasing pressure on Iran’s economy, disrupting oil exports and contributing to challenges including inflation, currency volatility and unemployment.
Iranian Economy Minister Ali Madanizadeh said Tehran would pursue domestic reforms rather than change course because of U.S. pressure.
Meanwhile, on Wednesday, it was reported that President Donald Trump is weighing a declaration that the Iran war is over while maintaining that continued economic pressure could push Tehran to dismantle its nuclear program or potentially contribute to the collapse of the Iranian regime.
Vice President JD Vance has also suggested that China may be willing to support the U.S. effort to economically isolate Iran, despite continued policy differences between Washington and Beijing.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock/ Saulo Ferreira Angelo
