Oil rises and US stock futures slide as markets react to US strike on Iran nuclear sites
The price of oil rose and U.S. stock futures fell as global markets react to the U.S. strike against nuclear targets in Iran.
The price of Brent crude oil, the international standard, rose 3.9% to $80 a barrel. U.S. crude rose 4.3% to $77 a barrel.
Futures for the S&P 500 fell 0.6%. Treasury yields fell slightly.
On Saturday, U.S. forces attacked three Iranian nuclear and military sites, further increasing the stakes in the war between Israel and Iran.
The conflict has sent oil prices yo-yoing over the last week, which has in turn caused see-saw moves for the U.S. stock market, because of rising and ebbing fears that the war could disrupt the global flow of crude. Iran is a major producer of oil and also sits on the narrow Strait of Hormuz, through which much of the world's crude passes.
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