Oil prices rose Sunday as U.S. stock-index futures edged higher, following reports that the United States and Iran reached an agreement to halt attacks after a weekend of escalating hostilities in the Persian Gulf.
The reported truce came after both sides exchanged airstrikes repeatedly over the weekend, raising concerns about a broader conflict in a key global energy corridor.
Crude futures climbed as traders assessed the potential impact on supply routes, though gains remained modest amid hopes for de-escalation.
Stock-index futures also advanced, reflecting cautious optimism that diplomatic channels could contain the confrontation.
Tensions have simmered in the region for weeks, with the U.S. and Iran trading blame for a series of attacks on commercial vessels and military assets.
The latest round of strikes marked one of the most intense exchanges yet, threatening to disrupt oil shipments from the Middle East.
Markets reacted swiftly to news of the ceasefire, with investors balancing relief against lingering uncertainty over long-term stability.
Analysts remain wary, noting that previous pauses in the conflict have frequently collapsed into renewed violence.
The agreement, if sustained, could provide temporary stability for oil prices and broader financial markets.
Traders will monitor for any signs of violations that could reignite volatility in the coming days.
