Oil Slips, US Stocks Gain as Trump Extends Iran Deal Deadline

• Oil prices edged lower, and US equity-index futures advanced after President Trump extended the deadline for Iran to reach a deal, improving market sentiment.
• Brent crude oil slipped 1.9% to around $106 a barrel following Trump’s 10-day extension, though oil is still up over 70% this year.
• Trump's remarks, made after market close, lifted S&P 500 and Nasdaq 100 futures by 0.5%, following a global equity selloff.
• The extension delays a concrete resolution regarding the reopening of the Strait of Hormuz, maintaining market uncertainty.
• Higher oil prices have fueled inflation fears, contributing to a decline in Treasuries and rising US 10-year and two-year yields.