LIVE: Oil jumps, stocks wobble and Bitcoin holds $81,000 after Trump rejects Iran ceasefire offer

U.S. stock futures opened weaker on Monday, with the Dow Jones Industrial Average falling by 31 points, or 0.1%. Futures on the S&P 500 and the Nasdaq-100 also fell 0.1%.

The move came after a strong week for equities. The S&P 500 rose more than 2% last week, while the Nasdaq Composite gained more than 4%. Both indexes also posted their sixth straight weekly advance, the first time either has done that since 2024.

Oil moved higher Monday after Israeli Prime Minister Benjamin Netanyahu said the conflict with Iran was “not over,” keeping fears alive that the Middle East fighting could worsen and put more pressure on energy supplies.

Donald Trump has rejected Iran’s counteroffer to end the war with the U.S. and Israel, saying, “I have just read the response from Iran’s so-called ‘Representatives.’ I don’t like it — TOTALLY UNACCEPTABLE!”

U.S. West Texas Intermediate crude futures for June delivery rose more than 2% to $97.88 per barrel by press time.

Brent crude futures for July delivery also climbed more than 2% to $103.93. Both WTI and Brent are now up around 40% since the U.S. and Israeli-led war against Iran began on Feb. 28.

Citi analysts said in their latest oil report that prices could move higher if Iran and the U.S. fail to reach a deal. They said crude markets have so far been supported by high inventories, strategic petroleum reserve releases, weaker demand in developing economies, and occasional signs that tensions in the Middle East could cool.

Citi still said oil risks are leaning higher because Iran holds major control over the timing and terms of any deal to reopen the Strait of Hormuz, a key route for global energy flows.

In crypto, Bitcoin traded at $81,073.60, up 0.21%, with $59.01 billion in volume, a $1.63 trillion market cap, and $129.17 million in listed derivatives data.

Ether fell 0.11% to $2,324.56, with $47.71 billion in volume, a $281.22 billion market cap, and $92.13 million in derivatives data. Solana rose 1.53% to $94.96, while XRP gained 2.09% to $1.4606.