Oil prices resumed their upward climb and U.S. futures were lower early Tuesday after Israel’s military issued an evacuation warning to 330,000 people in Iran’s capital Tehran. Asian shares were mixed.

Stock futures lost ground Tuesday morning, while oil prices surged, as investors monitored developments in the escalating conflict between Israel and Iran.

However, without a fresh supply disruption or a clear central bank signal, crude remains in a consolidation zone. Short term, the market retains a bullish bias, but a confirmed breakout above $76.57 is needed to unlock the next upside leg.

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The Dow, S&P 500, and Nasdaq are rising Monday and oil prices are falling as the stock market reacts to fighting between Israel and Iran.

Oil futures were giving back a small slice of the Friday rally sparked by Israel's strike on Iran and resulting fears the conflict could threaten crude flows out of the Middle East. Those fears have l

US and Brent crude prices jumped on fears of supply disruption from the Middle East as Iran has repeatedly threatened to close a key shipping route.

U.S. natural gas futures climbed about 3% on Friday, tracking gains in oil prices after Israel launched strikes against Iran, raising worries the conflict could disrupt Middle Eastern oil and gas supplies.

Crude oil futures finish down 1.7% to $71.77 a barrel, with oil under pressure as the latest source of turmoil in the Middle East may meet a quick conclusion. Iranian leaders signal a willingness to negotiate with Israel to put a stop to an exchange of missile fire between both sides.

Investors tempered the risk-off positioning that was triggered by the hostilities between Israel and Iran, with oil wavering and stocks staging a tentative rebound.