Iran declares Strait of Hormuz closed, triggering modest US equity futures decline and crude oil spike.
Macro & Markets ·
Iran declared the Strait of Hormuz closed, prompting US equity futures to open lower with the S&P 500 down 0.1%, Nasdaq 100 down 0.3%, and Dow Jones down 0.1%, while crude oil prices climbed with WTI gaining 3.0% and Brent rising 2.5%. Gold fell 0.3% in the same session. The move appeared linked to the end of a memorandum of understanding, though the specific terms and timeline remain unclear.