MarketPR
Brent crude is trading near $106 a barrel as the war with Iran continues to disrupt global energy supplies, lifting energy stocks while S&P 500 futures sit near 7,817, up 0.1%.
The index remains steady ahead of Tuesday, when bank earnings season begins. The oil price surge is outpacing official forecasts.
Energy Information Administration (EIA) expected Brent to average $89 in the fourth quarter of May, but the commodity settled Friday at $105 and continues to rise.
This gap means producers are realizing higher margins per barrel than planners anticipated. Equity markets are reflecting this shift in supply constraints.
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