U.S. stock futures moved higher early Monday, following three consecutive weeks of weekly declines and as investors monitored sharp gains in oil prices linked to the ongoing conflict between the United States and Iran. The market is seeking stability after recent volatility, with attention focused on potential supply disruptions in global energy markets.
As of 4:23 p.m. (Bangkok Time), Futures tied to the Dow Jones Industrial Average climbed 104 points, or 0.22%. S&P 500 and Nasdaq 100 futures also advanced, rising 0.41% and 0.52%, respectively. The S&P 500 had closed on Friday at its lowest level since last November, continuing a multi-week negative trend for major indexes.
Oil benchmarks saw substantial upward momentum, with Brent crude reaching $105.06 per barrel and West Texas Intermediate approaching $98.05. The price spike comes as vessel movements through the Strait of Hormuz—a major chokepoint for global energy supply—have been halted since hostilities escalated. Last week’s session saw Brent crude close above the $100 mark for the first time in four years.
On the geopolitical front, President Donald Trump authorized military action against Iranian forces stationed on Kharg Island late last week. Although this strike did not affect oil production or transport infrastructure, the President indicated that U.S. forces could target such assets if Iran maintains its blockade of the strategic shipping lane. Trump stated in a weekend interview that while Iran may be seeking a resolution, he is currently not prepared to engage in negotiations.
Investor sentiment may have been buoyed by a Wall Street Journal report suggesting that the U.S. will soon announce a coalition of nations to provide naval escorts for shipments transiting the Strait of Hormuz.
Market participants are also turning their attention to several domestic corporate and policy developments. The annual GTC conference hosted by Nvidia begins Monday, highlighted by a keynote address from CEO Jensen Huang. In addition, the Federal Reserve will convene its second policy meeting of the year, with the consensus view pointing to no change in official interest rates.
