Dow, S&P 500, Nasdaq futures slip as brent crude nears $100

US stock futures edged lower on Wednesday, September 9, as oil prices continued to climb, with Brent crude nearing the $100-a-barrel mark amid concerns that escalating tensions between the United States and Iran could further disrupt energy supplies from West Asia.

Futures linked to the Dow Jones Industrial Average were down around 0.3%, after the blue-chip index lost more than 600 points in the previous session. S&P 500 futures slipped about 0.2%, while Nasdaq-100 futures fell around 0.4%.

Oil prices extended their gains after rising sharply in the previous session. Brent crude futures, the international benchmark, traded close to $100 a barrel, while US benchmark West Texas Intermediate (WTI) hovered around $94 per barrel.

The latest rise in crude prices comes amid heightened concerns over potential disruptions to West Asia energy supplies following an escalation in tensions between the US and Iran.

Higher oil prices weighed on equities in the previous session, marking a weak start to the holiday-shortened trading week.

Among individual stocks, Casey's General Stores shares fell more than 10% in premarket trading after the company reported its fiscal first-quarter results.

While the company beat expectations for earnings and revenue, its same-store sales growth slowed compared with a year earlier. Sales across prepared food and dispensed beverages, grocery and general merchandise, as well as fuel volumes, also missed estimates, according to FactSet.

Apple event in focus

Investors are also awaiting Apple's annual iPhone launch event

later on Wednesday, where John Ternus is set to take the stage.

The event will be closely watched as Apple looks to unveil its latest products and outline its strategy for the next phase of its hardware business.

Oil prices and developments in West Asia are likely to remain a key focus for markets through the session, with investors also reassessing expectations around the US Federal Reserve's next policy move.

Also Read: Explained - Why the Dow Jones fell over 600 points on Tuesday but S&P 500 and Nasdaq did not