At around 5:30 a.m. ET, Dow futures indicated a negative open of about 12 points. Futures on the S&P and Nasdaq were both seen marginally higher.
Oil prices jumped more than 2% in the previous session, hitting their highest level this year amid intensifying concern about global supplies. It comes after the U.S. announced a further clampdown on Iran’s oil exports.
The world’s largest economy said Monday that from May 1, it would eliminate all waivers allowing eight economies to buy Iranian oil without facing U.S. sanctions.
International benchmark Brent crude traded at $74.40 Tuesday morning, up around 0.5%, while U.S. West Texas Intermediate (WTI) stood at $65.93, almost 0.6% higher.
In corporate news, Coca-Cola, Lockheed Martin and Verizon were among the major companies expected to report their latest figures before the opening bell.
Texas Instruments, eBay and Stryker are set to release their latest quarterly results after market close.