Wall Street dips, oil prices rise on reports of strike on US Navy vessel near Iran

INTELLIGENCE SUMMARY

Wall Street dipped and oil prices jumped early on Monday on conflicting reports of a strike by Iran on a US Navy vessel outside the Strait of Hormuz. Futures for the S&P 500 were down 0.2 per cent before the opening bell, while futures for the Dow Jones Industrial Average lost 0.5 per cent. Nasdaq futures dipped 0.1 per cent. Oil prices initially jumped 5 per cent on the news that a US ship had been hit, but is now trading between 2 per cent and 3 per cent higher after the US military denied the