US equity-index futures slipped 0.2% amid lingering tensions as Israeli strikes in Lebanon and the continued closure of the strait weighed on sentiment. Gold dropped 0.3% to about $4,750 an ounce, while Treasuries were a touch weaker.
Brent climbed about 1% to just under $97 a barrel as US President Donald Trump threatened Tehran over charging fees for vessels to use the Strait of Hormuz, a vital waterway that remains effectively shut. Trump also accused Iran of doing a “poor job” of letting energy supplies flow. The dollar strengthened against all its Group-of-10 peers.
Traders are watching the shaky ceasefire and planned US-Iran talks in Islamabad this weekend for clues on the market’s next move. While oil is headed for its biggest weekly loss in more than nine months and global stocks are set for a second week of gains, sustaining the rally will depend on confidence that the truce holds and oil flows smoothly through the Strait of Hormuz.The mood is cautious in the market as Trump’s declaration signals the US may oppose any new arrangement where Iran uses leverage over the strait to charge tolls. Iran has previously suggested that the fees could be used to rebuild from the war.
Meanwhile, Israeli Prime Minister Benjamin Netanyahu agreed to hold direct talks with Lebanon, with the focus on disarming Tehran-aligned Hezbollah. Trump has asked him for a scale-back in strikes to ensure the success of negotiations with Iran, NBC News reported.
During the US session, the S&P 500 Index closed 0.6% higher, overcoming a selloff in software shares to cap its longest winning run since October. The Nasdaq 100 gained 0.7%.
Elsewhere, data showed the US economy expanded at a slower pace than previously estimated in the final months of 2025. Consumer spending barely rose in February amid persistent inflation that’s set to accelerate due to the war.
With inputs from Bloomberg
