[MARKET UPDATE] US equity futures are marginally higher at the reopen as they regain some composure after last Friday's tech sell-off, while oil futures retreat following Iran talks with Qatari mediators in Doha

US equity futures are marginally higher at the reopen as they regain some composure after last Friday's tech sell-off, while oil futures retreat following Iran talks with Qatari mediators in Doha.

Reopens of this kind, after a concentrated tech-led selloff into a weekend or holiday break, have historically tended toward a modest bounce as gap risk is unwound and positioning normalises; the pattern is that the first session back tells more about whether the prior move was positioning or fundamental, with follow-through selling in the large-cap tech complex being the tell that it was the latter. On the crude side, Gulf-mediated contacts involving Iran have repeatedly taken the geopolitical risk premium out of the front of the oil curve, since de-escalation signals compress the tail risk embedded in prompt spreads and in freight and insurance costs rather than shifting underlying balances. The precedent is that such premium unwinds prove durable only when talks produce something verifiable on exports or enrichment, and tend to retrace quickly when they stall. The distinction worth drawing is between headline-driven de-escalation and actual supply re-entry: the former moves the flat price and prompt timespreads, the latter would reshape the back of the curve and the OPEC supply calculus. Worth watching is whether equity breadth confirms the stabilisation and whether further mediator statements or counterparties emerge from the Doha channel.