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.

Crude oil prices declined after OPEC agreed to raise production by 548,000 barrels per day in August. Oil prices also came under pressure as US officials flagged a delay on tariffs but failed to provide details on the change.

Oil prices slipped on Monday after OPEC+ surprised markets by hiking output more than expected in August, while uncertainty over U.S. tariffs and their potential impact on global economic growth weighed on demand expectations.