Oil Gains as EU Commits to Partial Russian Crude Ban

A pledge among European Union leaders to curb oil purchases from Russia lifted crude prices, while U.S. stock futures fell, reigniting volatility in the markets during the last trading session of the month.

Futures for the S&P 500 fell 0.3% Tuesday, a day after U.S. markets were closed for Memorial Day. The benchmark index had risen 0.6% for the month through Friday, putting it on track to steady after April’s 8.8% loss. Contracts for the Dow Jones Industrial Average shed 0.5%, while those for the technology-focused Nasdaq-100 inched up 0.1%.