Oil prices climbed on heightened tensions in the Strait of Hormuz, a critical chokepoint for global energy supplies. The rally occurred amid generally quiet trading conditions, with U.S. stock futures mixed and Treasurys on pause due to the Labor Day holiday. Market participants were largely sidelined, limiting broader market moves.

The situation underscores ongoing volatility in key energy transit routes. Despite the holiday lull, geopolitical risks continued to drive specific sector attention. Investors focused on the potential impact of regional disruptions on supply chains.

The mixed futures performance reflected the cautious sentiment prevailing ahead of the long weekend.