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US Stock Futures Rise as Oil Prices Fall Sharply on Iran Peace Hopes
US stock futures rose early Monday as oil prices fell on reports the US and Iran are seeking a diplomatic end to their war.
Key points
- Brent crude fell 4.5% to $108.38 a barrel, according to CNBC.
- S&P 500 futures were 0.5% higher and Nasdaq-100 futures 0.8% higher at 6:25 a.m. ET.
- Secretary of State Marco Rubio said President Trump would like to resolve the war diplomatically.
Why it matters. The drop in oil prices, which CNBC linked to reports of US-Iran diplomacy, is the main driver behind the early gains in stock futures.
US stock futures rose early Monday as oil dropped on reports the US and Iran are seeking a diplomatic end to their war, CNBC reported. Brent crude fell 4.5% to $108.38 a barrel, and Secretary of State Marco Rubio said President Trump would like to resolve the war diplomatically. S&P 500 futures rose 0.5% and Nasdaq-100 futures 0.8% by 6:25 a.m. ET, as AI stocks bounced after last week's selloff.
Latest updates
US Stock Futures Rise as Oil Prices Fall Sharply on Iran Peace Hopes
US stock futures rose early Monday, November 2, 2026, as oil prices dropped sharply. Oil fell more than 4% after reports that the United States and Iran are seeking a diplomatic end to their war, CNBC reported. At 6:41 a.m. ET, the QQQ fund was trading higher. Yahoo Finance reported that investors regained risk appetite ahead of a busy week that includes earnings, the US midterm elections and a key jobs report. Stock Titan also flagged Perion and Kosmos among the day's big movers.
Oil Prices Fall More Than 3% on Hopes of US-Iran Diplomatic Progress
Oil prices fell more than 3% on hopes of diplomatic progress between the United States and Iran. Oil flows out of the Gulf have risen substantially, easing the large supply disruption caused by the US and Israeli war on Iran. According to market intelligence firm Kpler, crude exports from the Gulf averaged 24.6 million barrels per day in the week to October 18. That volume exceeded the pre-war average. The recovery in supply has eased pressure on global crude markets. Whether the diplomatic talks produce a settlement will determine how durable the price decline is.