00:00Wall Street indexes retreated and oil prices rallied 5% on Monday,
00:04with markets focused on the outlook for Federal Reserve interest rates
00:07and on a potential deal between the US and Iran to reopen the Strait of Hormuz.
00:12Iran insisted that the United States must satisfy the several demands
00:15before the strait can reopen, fueling uncertainty.
00:19Iran said on Sunday that a deal with Oman about transit through the Strait of Hormuz
00:23was in its final stages, but retreated that the waterway would reopen
00:27only if the United States met other conditions.
00:30Those include compensation and an end to sanctions and military threats.
00:35Brent crude futures settled up $4.17, or 4.99%, at $87.72 a barrel,
00:42while U.S.-West Texas intermediate crude futures closed up $3.95, or 5.05%, at $82.13.
00:51The key event for markets this week is the U.S. inflation reading for July on Wednesday,
00:56which will impact Fed officials' think on rates.
01:00Investors will also be watching Eurozone employment data
01:03and U.S. consumer prices figures for clues on the interest rate outlook.
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