Brent Oil Rises Above $100 Amid Middle East Tensions

U.S. stock futures edged higher Friday after major indexes posted a fourth consecutive session of losses, as investors awaited August consumer-price data for clues about the Federal Reserve’s next policy move. Brent crude had recently risen above $100 a barrel amid Middle East tensions, reported Houthi attacks on Saudi facilities, threats to Persian Gulf shipping and uncertainty surrounding disruptions involving Iran and the Strait of Hormuz. The increase in oil prices has raised concerns about renewed inflation and higher costs for households and businesses, while August producer prices rose 5.4% from a year earlier. Traders broadly expect a possible 25-basis-point Fed rate increase in September, and the 10-year Treasury yield remained near multiyear highs at close to 5%. Reports of diplomatic efforts by Iran and Oman to reopen the waterway supported Friday’s futures, while Oracle shares rose before the open after the company exceeded earnings expectations and raised its fiscal 2027 outlook.