Oil prices rise, stocks fall ahead of Trump's Tuesday deadline for Iran

Oil prices rose on Tuesday and stock futures fell ahead of President Trump's 8 p.m. ESTdeadline for Iranto reopen the Strait of Hormuz to avoid sweeping airstrikes on infrastructure targets, including power plants and bridges. S&P 500 futures sank 0.5%, while Dow Jones Industrial Average futures pointed to a decline of 0.4%. Nasdaq futures dropped 0.6%. Brent crude, the international oil benchmark, rose 1% to $110.81 per barrel, while West Texas Intermediate, the U.S. benchmark, jumped 2.9% to $115.70. Surging oil costs have driven up U.S. gasoline prices to their highest level since 2022. The