Oil prices jumped and U.S. stock futures slipped at the start of the week as the Strait of Hormuz standoff intensified. International benchmark Brent crude rose about 2% to top $107 a barrel, after the Islamic Revolutionary Guard Corps boarded two container ships transiting the strait.
U.S. Futures Pull Back
- Dow Jones Industrial Average futures — fell about 130 points (–0.2%)
- S&P 500 futures — slipped 0.3%
- Nasdaq 100 futures — slipped 0.3%
Iran Talks in Limbo
The cancellation of the Witkoff-Kushner trip to Pakistan kept Iran peace talks in limbo and removed any near-term diplomatic backstop for the oil tape. Trump’s “shoot and kill” order targeting Iranian small boats has further compressed the risk-on window.
The Week Ahead
Markets are also bracing for:
- Federal Reserve decision Wednesday — possibly Powell’s final meeting as chair
- Big Tech earnings week — five Magnificent Seven names report (MSFT/GOOGL/AMZN/META Wed; AAPL Thu)
- U.S. PCE inflation Friday — Fed’s preferred inflation gauge
- Verizon kicks off the U.S. earnings calendar before the bell on Monday
What It Means for Ghana
Brent above $107 keeps imported pressure on Ghana’s pump prices and the IMF-supported budget. The Mahama administration’s earlier GH₵2.00/litre diesel absorption remains the most visible cushion against the shock.
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