US stock futures slipped on Monday as oil prices extended their gains amid fading hopes for a deal to reopen the Strait of Hormuz, keeping inflation risks and the interest rate outlook in focus. Iran said talks with Oman were approaching an agreement but denied holding direct negotiations with the US, despite Washington’s claims that a deal was close. Investors also turned their attention to key US inflation data due this week after July’s jobs report showed an unexpected contraction, fueling expectations that the Federal Reserve may refrain from raising interest rates. Markets now see around a 44% probability of a 25 basis point rate hike in September, down from 67% a week earlier. On the corporate front, earnings from major AI-related companies, including Applied Materials, Cisco and CoreWeave, are due this week.