Oil Surges, Futures Fall as Trump Ratchets Up Threats Against Iran

Futures on Brent crude (BZ=F), the international benchmark, rose roughly 2.5% to trade above $111 per barrel on Sunday night. Futures on the US benchmark oil price, West Texas Intermediate (CL=F), gained 3.1% to cross $115 per barrel.

US stock futures moved in the other direction at the open of futures trading, with futures on the S&P 500 (ES=F) dropping roughly 0.8% and those on the tech-exposed Nasdaq 100 (NQ=F) fell roughly 1%. Contracts on the Dow Jones Industrial Average (YM=F) lost 0.7%, or roughly 340 points.

Closer to 8:15 pm ET, stock futures had moved off their evening lows.

Investors on Monday will get their first real chance to weigh in on the March jobs report, which surprised on Friday as the US economy created 178,000 jobs as the unemployment rate fell to 4.3%.

Markets in the US were closed for Good Friday to finish last week. Markets in many countries worldwide, including the UK, Germany, France, and Australia, will be closed for Easter Monday.

In the week ahead, investors will also watch for key US inflation data due out Friday and earnings results from Delta, expected on Wednesday.