Stock-market futures were down Sunday evening, suggesting investors were bracing for a sharp drop in major indexes after weekend talks between the U.S. and Iran failed to open the Strait of Hormuz and led President Donald Trump to announce a blockade of the crucial waterway.

Investors on Monday were also able to shrug off a jump in oil prices. West Texas Intermediate crude futures settled up 2.6% at $99.08 a barrel, while Brent crude advanced more than 4% to $99.36. Energy prices rose as the U.S. began a blockade in the Strait of Hormuz.

Why are US stock market futures up now, and will Dow Jones, S&P 500 and Nasdaq stay in green or turn red again? US futures moved slightly higher as investors tracked tensions between Donald Trump and Iran,

Major stock indexes closed sharply higher Monday, with the Nasdaq rising for a ninth consecutive session, as investors held out hope that a U.S.-Iran peace deal would eventually be agreed upon.

Live updates on markets and the top finance, economics and business stories. Plus the latest on oil prices, the Dow, S&P 500 and Nasdaq.

Oil prices plunged and U.S. stock futures jumped after President Donald Trump held off on his threat of devastating attacks on Iran. U.S. crude oil futures fell more than 15%.

"CENTCOM forces will not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports."

Stocks extended their rally Thursday, even as oil prices gained, amid continued optimism among traders that the fragile two-week ceasefire between the U.S. and Iran could be sustained. The S&P 500 added 0.

Editor’s note: The future prices of benchmark tracking ETFs and pre-market prices of stocks have been updated. U.S. stock futures declined on Monday following Friday's mixed close. Futures of major benchmark indices were lower after President Donald Trump announced a blockade of the Strait of Hormuz.