U.S. stocks initially declined as negotiations over the Strait of Hormuz remained deadlocked, while Brent Crude approached $90 per barrel due to persistent shipping restrictions. By August 12, stock futures saw a recovery ahead of a key inflation report despite the ongoing deadlock between the U.S. and Iran. Oil prices remained elevated, surpassing $89 per barrel, following conflicting claims from both nations regarding control over the strategic waterway.
