U.S. stock futures mostly advanced on Monday, as President Donald Trump announced “Project Freedom” to guide ships of neutral countries stranded in the Strait of Hormuz out of restricted waters. S&P 500 futures gained 12.25 points, or 0.17%, to 7,270.25 and Nasdaq 100 futures advanced 100.25 points, or 0.36%, to 27,936.00 as of 2:11 a.m. EST, while futures tied to the Dow Jones Industrial Average eased 16 points, or 0.032%, to 49,630.00. Iran Warns On Trump’s Announcement Trump, on Sunday, said the U.S. will begin a humanitarian operation to assist vessels from neutral countries that are stuck due to Iran's blockade and are running low on essential supplies like food and water. “We have told these Countries that we will guide their Ships safely out of these restricted Waterways, so that they can freely and ably get on with their business,” Trump wrote on Truth Social. He warned that any interference would be met with a forceful response. Details of the U.S. operation remain unclear, including who it will assist and how it will work. Meanwhile, ships and crews have been stranded in the Persian Gulf since the war began, witnessing intercepted attacks overhead as their supplies run low. Meanwhile, Iran's state-run IRNA dismissed Trump's announcement as "delirium," while Ebrahim Azizi, head of Iran's parliamentary National Security Commission, warned in a post on X that any U.S. interference in the Strait of Hormuz would violate the ceasefire. Traders Eye OPEC+ Output Hike, Oil Risks Traders are also likely to evaluate OPEC+'s decision to raise oil output by 188,000 barrels per day, announced at its first meeting following the exit of key member the United Arab Emirates (UAE). Gaurav Ganguly, head of international economics at Moody's Analytics, warned on CNBC Squawk Box Asia on Monday that a prolonged Middle East conflict keeping oil prices high could tip the global economy into recession, estimating that sustained Brent crude prices around $125 per barrel would likely trigger a downturn. In commodities, WTI crude oil slipped 0.93% to $100.99 per barrel. Brent crude edged down 0.78% to $107.34 per barrel. RBOB gasoline futures fell 0.73% to $3.5667 per gallon, while natural gas futures traded 2.23% higher at $2.840 per MMBtu. ULSD heating oil declined 1.08% to $3.9037 per gallon. Meanwhile, the U.S. dollar index stood at 97.957, down 0.05%. Asian markets were higher, with Japan’s Nikkei 225 rose 0.38% to 59,513.12, while South Korea’s KOSPI gained 4.83% to 6,917.67. Image via Shutterstock © 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. To add Benzinga News as your preferred source on Google, click here.
U.S. stock futures mostly advanced on Monday, as President Donald Trump announced “Project Freedom” to guide ships of neutral countries stranded in the Strait of Hormuz out of restricted waters. S&P 500 futures gained 12.25 points, or 0.17%, to 7,270.25 and Nasdaq 100 futures adv…
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A tanker identified as the Kaifan was struck by an unknown projectile northeast of Oman’s Limah in the Strait of Hormuz, according to a July 21 report from UK Maritime Trade Operations. No ships were observed transiting the strait that day. Attribution of the strike and links to prior incidents have not been confirmed by the vessel’s owner.
Goldman Sachs has projected Brent crude averaging $80 per barrel in the fourth quarter and $75 in the following year, conditional on reduced Middle East tensions, while noting upside risks from potential shipping disruptions in the Strait of Hormuz or Red Sea.
Brent prices rose above $91 per barrel amid recent U.S.-Iran exchanges and Houthi threats to Saudi shipments before edging lower on Tuesday. A senior Iranian official told Reuters that mediators had proposed a 10-day ceasefire to preserve an interim agreement.
US forces struck the tanker Settebello in the Gulf of Oman on June 10, killing three Indian crew members when munitions hit the engine room and adjacent areas. Maritime tracking data indicate the vessel had transported Iranian oil under US sanctions for several years and conducted offshore transfers prior to the strike.
The US military described the action as a precision operation, while reports note the ship was stationary at the time.
Iranian officials reported strikes on US radar and air defense sites in Kuwait and Bahrain, along with the interception of two oil tankers in the Strait of Hormuz. The United States conducted strikes on Iranian targets following the deaths of three US soldiers, with the Pentagon stating the actions aimed to degrade capabilities affecting shipping.
Houthi forces in Yemen announced plans to blockade Saudi ports, while both US and Iranian leaders issued statements on further escalation.