Oil Rises and Tech Hits Records Amid Middle East Tension
Brent crude climbed to $94.74 a barrel after U.S. and Iran peace talks stalled and regional hostilities flared. Meanwhile, artificial intelligence optimism pushed Japanese and Taiwanese stocks to record highs as investors prepare for a major SpaceX initial public offering. Markets remain focused on upcoming U.S. labor data for clues on future interest rate hikes.
Brent Crude Oil rose 1% to $94.74 on Wednesday as stalled U.S.-Iran peace talks triggered fresh hostilities in the Gulf. This marks the third consecutive day of price gains for the global benchmark. Geopolitical instability is forcing investors to re-evaluate risk premiums despite record-high technology shares.
### Gulf Hostilities Stall Energy Diplomacy The U.S. military confirmed Iranian missile attacks targeted Bahrain and Kuwait overnight, though defense systems in those nations thwarted the strikes. Diplomacy between Washington and Tehran has faltered after both nations signaled a tentative deal to end the conflict just last week.
