U.S. Stock Futures Decline as Oil Prices Continue to Rise amid Iran War

2026-03-12 12:57:56

U.S. stock futures fell on Thursday morning as rising oil prices amid the escalating Iran conflict impacted investor sentiment. Energy Secretary Chris Wright’s announcement that the U.S. will release 172 million barrels of oil from the Strategic Petroleum Reserve and the International Energy Agency’s (IEA) decision to release 400 million barrels from emergency reserves failed to bring down oil prices as Iran continues to disrupt supply. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.63%, 0.66%, and 0.81%, respectively, at 8:30 a.m. EST on March 12.

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At the time of writing, the price of the global oil benchmark Brent (CM:BZ) was up more than 7% to $98.63 a barrel, while West Texas Intermediate (WTI) crude (CM:CL) rose 7% to trade at $93.41 per barrel. Iran continues to strike foreign ships in the Persian Gulf and has warned that oil prices could climb to $200 a barrel.

During Wednesday’s regular trading, the three major indexes closed mixed as traders digested developments in the U.S.-Iran war. The S&P 500 and the Dow Jones fell 0.08% and 0.61%, respectively, while the Nasdaq Composite gained 0.08%.

Turning to trending stocks, Dick’s Sporting Goods DKS +0.48% ▲ shares were up about 5% in Thursday’s pre-market trading after the retailer reported a better-than-anticipated holiday quarter. However, the company issued a weak earnings outlook, reflecting the impact of the Foot Locker acquisition. Hims & Hers Health HIMS +10.27% ▲ stock surged 5% after Eli Lilly LLY -0.15% ▼ issued a notice about the risks associated with compounded tirzepatide mixed with vitamin B12.

Meanwhile, UiPath PATH +6.82% ▲ stock fell more than 9% as the automation software company’s Q1 guidance failed to impress investors. In contrast, Bumble BMBL +1.07% ▲ shares rallied 21% in pre-market trading after the dating app reported solid Q4 results.

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