U.S. stock futures held steady in European trading after major indexes notched a trio of record highs in the prior session, driven largely by the artificial-intelligence rally. Japan's Nikkei extended its own record close overnight. S&P 500 and Nasdaq futures were flat, while the Dow Jones Industrial Average slipped 0.2% premarket.

Oil prices climbed 2% as hostilities between the U.S. and Iran escalated. Iran fired ballistic missiles at American bases in the Gulf after the U.S. struck an empty oil tanker. Brent crude rose to $97.89 a barrel, while WTI reached $95.78. Both benchmarks are up 6% and 8% on the week as diplomatic efforts to reopen the Strait of Hormuz stalled.

European equities lagged on fresh U.S. tariff proposals weighing on exporters. A new OECD report warned that global growth will slow significantly this year as energy costs from the U.S.-Iran conflict ripple through consumer and business spending. The dollar strengthened and Treasury yields rose further.

Investors now await the U.S. ISM services index for May, ADP private payrolls, and the Federal Reserve's Beige Book. Saxo Bank analysts noted that President Trump's repeated insistence on a possible interim agreement continues to partly offset the oil risk premium, keeping a lid on further price spikes for now.