Hello, this is Dylan Butts writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.

The Middle East conflict entered its fourth week over the weekend, with U.S. President Donald Trump and Tehran issuing dueling warnings regarding the Strait of Hormuz.

The closure of the vital shipping route has rattled international markets, as Washington faces pressure to keep energy prices in check and reopen the waterway.

U.S. President Donald Trump on Saturday delivered a stark ultimatum to Iran, threatening to “obliterate” Iran’s power plants if Tehran does not fully reopen the Strait of Hormuz within 48 hours.

Iran responded by warning it would target U.S. infrastructure in the Gulf, including energy and desalination facilities, if Washington carried out its threat.

Iran’s speaker of the Parliament also warned that financial entities supporting the U.S. military budget were legitimate targets, and that buyers of U.S. Treasury bonds were purchasing “a strike on your HQ and assets.” 

The dueling warnings came after Iran targeted nuclear facilities in Israel, following reports of U.S.-Israeli attacks on an Iranian nuclear enrichment complex. The Israeli military said some missiles struck the southern cities of Dimona and Arad after air defenses failed to intercept them.

The latest escalation has raised fears among corporate executives that the conflict will drag on for months, prolonging uncertainty for the global economy. 

While oil prices stabilized on Monday, some analysts have warned that further escalations, including strikes on critical infrastructure and energy facilities in the Middle East, could push prices higher. 

U.S. stock futures were little changed on Monday, though Wall Street’s three major indices ended last week lower. The S&P 500 declined by more than 1.5% and fell below its 200-day moving average for the first time since May. The Dow, which saw its first four-week losing streak since 2023, and the Nasdaq each fell around 2% last week.

— Dylan Butts

From satellites to space data centers: Why low earth orbit is attracting billions in investment

A new layer of critical infrastructure is emerging above our heads.

Low Earth Orbit (LEO) — which NASA defines as the stretch of space at an altitude of 2,000 km or less — is rapidly evolving from a niche technical domain into one of the most strategically important environments of the 21st century.

It underpins global navigation, telecommunications, defense and worldwide connectivity and is seeing a flood of investment.

— Tessa McCann