Oil Prices Jump As Iran Pulls Out Of Talks Until This Happens; S&P 500 Stalls

U.S. oil prices surged back above $90 a barrel on Monday morning after Iran pulled out of negotiations with the U.S., blaming Israel's escalation in Lebanon. The S&P 500 reversed slightly lower as a prolonged Strait of Hormuz closure and accelerating manufacturing activity put upward pressure on Treasury yields. Tehran, via its Tasnim news agency, demanded the immediate halt of Israeli offensives in Gaza and Lebanon, including the full withdrawal of Israel's army from the latter.