Oil surge shakes FTSE 100 futures after London index’s record February rally
Oil prices surged and stock futures slid on Monday as U.S. and Israeli strikes on Iran kept markets focused on Middle East supply risks. Brent crude was up 6.4% at $77.57 a barrel, while FTSE futures fell 0.6%; EuroSTOXX 50 and DAX futures also dropped. Rystad Energy’s Jorge Leon flagged an “effective halt” in Hormuz traffic, and Wood Mackenzie’s Alan Gelder pointed to the “nearest historical analogue” of the 1970s oil embargo.