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July 14, 2026

Oil prices jump while AI stocks sink

By STAN CHOE
AP Business Writer

NEW YORK — Oil prices jumped Monday following a weekend of attacks in the Middle East, while more losses for computer chip companies and other winners of the artificial-intelligence boom dragged stock markets lower.

The price for a barrel of Brent crude oil, the international standard, climbed 9.6% to $83.30 after the United States and Iran each said the Strait of Hormuz is under its control. Fighting in the region has kept oil tankers from using the strait to deliver crude to customers from the Persian Gulf, which drives up fuel prices worldwide.


 
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