Late Wednesday, U.S. military strikes on Iran and a drone attack on a U.S.-owned gas vessel in Egypt heightened fears of a broader Middle East conflict, even as U.S. stock futures moved higher and oil prices remained elevated.

Dow Futures Rise as Oil Holds Near $90

Dow futures rose 94.00 points, or 0.18%, to 51,859.00, while S&P 500 futures gained 20.00 points, or 0.27%, to 7,371.25. Nasdaq 100 futures advanced 198.25 points, or 0.73%, to 27,540.25 as of around 8:37 p.m. EDT.

In commodities, WTI crude oil slipped 0.36% to $84.16 per barrel, while Brent crude fell 0.79% to $90.02 per barrel. Natural gas futures were unchanged at $2.725 per MMBtu.

Meanwhile, the U.S. dollar index, which tracks the greenback against a basket of currencies, stood at 100.893, up 0.09% on the day.

Asian markets traded higher, with South Korea’s KOSPI gaining 0.13% to 5,670.59 and Japan’s Nikkei 225 rising 0.93% to 62,008.16.

US Launches Strikes on Iran After Missile Attack

U.S. Central Command said American forces began striking Iran at 8 p.m. EDT Wednesday in response to attempted Iranian attacks on U.S. forces stationed across the Middle East.

"The strikes are a powerful response to yesterday’s attempted Iranian attacks on U.S. forces based in the Middle East," CENTCOM said in a post on X.

President Donald Trump had earlier signaled a forceful response, telling reporters in the Oval Office, "We’re going to be hitting them very hard because it’s our turn to hit them. They know it’s coming," CNN reported.

The escalation followed an attack Tuesday night in which Iran’s Islamic Revolutionary Guard Corps launched multiple ballistic missiles toward U.S. forces in the region.

Jordan’s military said it intercepted five missiles.

Suspected Drone Strike Sparks Fire at Egypt Port

Meanwhile, a drone struck the U.S.-owned floating gas storage vessel Energos Winter at Egypt’s Mediterranean port of Damietta, according to British maritime security firm Ambrey, Reuters reported.

The fire reportedly spread to another vessel, Gaslog Salem.

Egypt’s petroleum ministry confirmed that a fire broke out involving a gasification vessel and a storage vessel but did not identify the cause.

The ministry said emergency teams quickly contained the blaze and reported no injuries or fatalities. The identity of those responsible remained unclear.

The incident came as Yemen’s Houthi group declared a naval blockade on Saudi Arabia, raising concerns that the conflict could increasingly threaten regional shipping and energy infrastructure.