Stock futures dipped and oil prices rose in overnight trading after an Israeli missile struck Iran following Iran's retaliatory attack on the country last weekend.Investors are closely watching conflicts in the Middle East for signs that escalating hostilities between Israel and Iran threaten global oil supplies and drive up energy prices.
benchmark crude rose was trading 11 cents higher at $82.22 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, gained 7 cents to $87.18 per barrel.'The attack — and the threat of retaliation to it — has increased the risk to physical supply of oil, but the response this morning suggests that some of that risk has already been priced in,' Neil Shearing, group chief economist, with Capital Economics, said in a report.