Oil futures declined and U.S. stock indexes rose despite fears Iran will close the Strait of Hormuz, a key waterway for transporting oil around the world.

Oil futures are selling off following Iran's missile attack on a U.S. military base in Qatar, with benchmark U.S. prices falling by as much as 5% in afternoon trading. The sharp decline is a sign that traders believe that Iran's retaliation for the U.

Stock futures edged higher and benchmark oil prices were on course for modest gains Monday, with investors seemingly not too fazed by the U.S. bombing of nuclear sites in Iran. Futures tracking the Do