Stock-market futures drop, oil surges back above $100 after failed talks between U.S. and Iran over the weekend
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Stock-market futures have dropped and oil prices have surged above $100 after failed talks between the US and Iran over the weekend. The failed talks have led to a blockade of the Strait of Hormuz, causing concerns over global oil shipments and higher gasoline prices.
Stock-market futures are down after failed US-Iran talks. The talks failed to open the Strait of Hormuz, a crucial waterway for global oil shipments. President Trump has announced a blockade of the strait, causing oil prices to surge above $100. The blockade will affect vessels entering or leaving Iranian ports. The US Navy will begin destroying mines laid by Iran and interdict vessels that have paid tolls to Iran. The conflict has disrupted oil tanker flow and caused higher gasoline prices in the US.
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