U.S. stock futures little changed as Hormuz reopening doubts grow

Investing.com-- U.S. stock index futures were little changed on Sunday night as investors turned cautious after Iran said it would not fully reopen the Strait of Hormuz unless Washington met a series of demands, reviving concerns over oil supplies and inflation. S&P 500 Futures inched 0.1% lower to 7,775.50 points, while [Nasdaq 100 Futures](https://www.investing.com/indices/nq-100-futures) were largely muted at 29,83775 points by 21:24 ET (01:24 GMT). [Dow Jones Futures](https://www.investing.com/indices/us-30-futures) traded 0.1% lower at 54,076.0 points Iranian Foreign Minister Abbas Araqchi said on Sunday that an agreement with Oman to establish new shipping lanes through the strategic waterway was in its final stages. But he said the agreement would not by itself reopen the strait, with Tehran seeking U.S. compensation, an end to military threats and sanctions, and the lifting of a naval blockade, among other conditions. The developments cast doubt on hopes for a quick resolution to a crisis that has kept shipping through the world's major oil chokepoint at a trickle. A Reuters report, citing a U.S. official, said that Washington expected an Iran-Oman deal soon and would lift its blockade of Iranian ports once commercial shipping could resume without impediments. Oil prices extended gains in Asian trading on Monday. Higher oil prices could add to inflation pressures and complicate the Federal Reserve's policy outlook.