U.S. stock-market futures declined as the Trump administration said a broad swath of tariffs against U.S. trade partners won’t take effect until Aug. 1, rather than July 9.

All three major U.S. indexes ended higher last week, notching three record closing highs despite an abbreviated trading week.

Oil prices dropped at the start of Mondays trading session as OPEC+ announced a larger-than-expected output hike, heightening concerns about a potential oversupply in the global market. Brent crude futures slipped