Stock futures held steady Monday evening as investors weighed signs of progress toward reopening the Strait of Hormuz against lingering doubts about a broader U.S.-Iran resolution. Oil prices surged, with West Texas Intermediate crude rising 5.1% to $82.13 per barrel and Brent climbing 5% to $87.72. The Federal Reserve faces a dilemma as key inflation data looms this week (CPI on Wednesday, PPI on Thursday), with traders now pricing roughly a 50% odds of a September rate hike, down from 67% a week earlier following a weak jobs report. Iranian Foreign Minister Abbas Araghchi ruled out restarting direct negotiations with Washington until Tehran’s conditions are met.
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