Oil Spikes Amid Iran Tensions | Virginia Beach News

Oil prices surged six percent after Trump declared an interim Iran deal void, sparking market jitters as U.S. strikes on Iran follow attacks on ships in the Strait of Hormuz. Brent crude hit $78.80, U.S. crude $75, reversing earlier drops from over $100. The deal’s 60-day ship passage waiver ended as Iran sought control and fees—despite ships being attacked near Oman, not Tehran’s designated route. Geopolitical turmoil fuels inflation fears, while AI stocks face scrutiny amid soaring valuations and massive chip/data center investments. Global markets tumbled—Germany, France, UK, Japan, and South Korea all down—yet Hong Kong surged, with Zhipu AI (Z.ai) soaring 13.4% as its six-month investor lock-up ends, defying earlier sell-off fears after a meteoric rise since January. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/8170db3a08d7d792