US stock futures rose and oil fell as improving risk sentiment was buoyed by prospects of shipping resuming through the Strait of Hormuz and progress toward a US-Iran deal.

S&P 500 Index futures gained 0.2% after the underlying gauge closed at a record high on Friday. Contracts for the Nasdaq 100 Index also advanced. Brent crude declined 2% in early trading Monday, while the dollar edged lower against most major peers. Japanese markets are shut for a holiday Monday.