US stock futures wavered overnight Sunday as investors looked to stabilize after another weak week for equities, while keeping a close watch on surging oil prices from the war between the US and Iran.

Futures tied to the Dow Jones Industrial Average (YM=F), S&P 500 futures (ES=F) and Nasdaq 100 futures (NQ=F) all hovered around the flatline.

The cautious start to the week follows a third straight weekly decline for the S&P 500 (^GSPC), which finished Friday at its lowest level of the year and lowest point since November.

Oil prices continued their rise as the US-Israeli war with Iran continues to halt traffic through the Strait of Hormuz. Both crude benchmarks climbed above $100 a barrel for the first time since 2022. In the latest development, US attacks on Kharg Island — Iran’s main export hub — have deepened immediate supply fears while also posing future risks as Iran promises retaliation against US energy facilities in the region.

In early trading Monday, West Texas Intermediate (CL=F) crude advanced about 2% to around $100.90 per barrel, while Brent (BZ=F) crude rose roughly 2.6% to hover above $105.

Investors will also be watching domestic corporate and policy events this week. Nvidia’s (NVDA) annual GTC conference kicks off Monday with a keynote speech from CEO Jensen Huang, while the Federal Reserve is scheduled to hold its second policy meeting of the year. Markets widely expect the central bank to leave interest rates unchanged.