Oil Prices Climb and US Futures Dip After Military Action in Middle East

Deep News06:30

Oil prices advanced in early trading on Monday after Iranian media reported that missiles were fired toward American vessels in the Strait of Hormuz, following a US military strike on an Iranian rocket launcher that was preparing to lay naval mines in the strategic waterway.

US stock index futures moved lower amid the heightened geopolitical tensions, while Treasury contracts weakened alongside gold. Bitcoin, however, posted slight gains in contrast to the broader risk-off tone.

The Philadelphia Semiconductor Index closed last week in negative territory, which could set the stage for a soft start in Asian equity markets. Meanwhile, the dollar held just above the 160-yen level ahead of the release of Japan's industrial production and retail sales figures.

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