U.S. oil prices already jumped last week, which could cause prices at the pump to rise about 20 cents a gallon in the coming weeks, according to one estimate.

Stock futures decline before Monday's session as the escalating conflict between Israel and Iran spiked oil prices and raised investors' concerns about the global economy. Dow Jones Industrial Average futures shed 184 points, or 0.4%. S&P 500 futures lost 0.4%, while Nasdaq 100 futures dropped 0.4%.

Israel’s attacks on Iran’s nuclear facilities risk pushing back the timeline for Federal Reserve interest-rate cuts as the US central bank waits to assess any potential impact on inflation, economists said.