US Equity Futures Fall as Oil Surges on Escalating Iran Tensions

Gate News message, April 19 — Oil prices surged and risk sentiment deteriorated over the weekend as US-Iran tensions escalated and standoff around the Strait of Hormuz intensified. US equity futures fell while the US dollar strengthened against major peers.

Brent crude jumped more than 7%, while S&P 500 futures declined nearly 1% after the underlying index closed at a fresh record on Friday. The dollar climbed against major currencies, with risk-sensitive assets including the Australian dollar and South African rand leading losses.