Global financial markets experienced volatility on Monday as renewed military escalations between the United States and Iran stoked fears over energy supplies.
Brent crude prices surged by approximately 3.4%, climbing toward $79 per barrel, as investors reacted to the intensifying conflict near the Strait of Hormuz.
The renewed hostilities follow the collapse of a brief ceasefire, with both nations trading airstrikes and missile salvos over the weekend.
Wall Street futures opened in mixed territory, reflecting investor caution. While energy stocks saw gains due to rising oil prices, broader indices faced pressure.
The technology sector, particularly chip and memory manufacturers, dragged on market sentiment.
Analysts note that the ongoing uncertainty regarding Gulf shipping lanes and the potential for prolonged energy-related inflation are complicating the economic outlook, just as major U.S. banks prepare to release their quarterly earnings reports this week.
