FTSE 100 stocks seen lower as oil prices climb on US-Iran strikes

• Oil prices are volatile due to rising US-Iran tensions.
• Brent crude surpassed $97 per barrel.
• US targeted Iranian oil tankers; Iran retaliated against US-linked vessels.
• A restricted maritime zone beyond the Strait of Hormuz is planned by Iran.
• President Trump downplayed the conflict as "intermittent" and "small potatoes."
• Concerns persist over safe passage through the Strait of Hormuz.

The FTSE 100 is anticipated to open lower as escalating tensions between the United States and Iran continue to impact oil prices. Brent crude, the international benchmark, climbed above $97 per barrel on Monday morning amid fears of disruptions to global oil supply. This follows a weekend of retaliatory strikes, with the US targeting three Iranian oil tankers and Tehran responding by attacking vessels linked to the US. Iran has also pledged to establish a restricted maritime zone beyond the Strait of Hormuz in the coming days. US energy secretary Chris Wright called for international cooperation to ensure the reopening of the Strait of Hormuz, emphasizing that global trade should not solely depend on the United States. The previous 60-day ceasefire between the US and Iran expired last month with no clear diplomatic resolution in sight. President Trump characterized the ongoing conflict as "intermittent" and "small potatoes" for the US, not a full-scale war. The heightened tensions have made shipping companies hesitant to navigate the Strait of Hormuz, a critical waterway that previously handled approximately 20% of the world's oil and liquefied natural gas.