Brent crude oil prices rise 13%, hit one-month high; AI stocks tumble 

Brent crude oil prices zoomed 13% in two days post renewed attacks between Iran and US in the the weekend. With the latest rally, brent crude price has hit a one month high. On the other hand, the rising tensions in the Middle East prompted investors to offload AI and computer chip companies on valuation concerns. 

Brent crude oil price has risen from $75.48 per barrel on Friday to $85.66 per barrel today, gaining 13.48% in two days. 

A crash in technology stocks such as Samsung Electronics and SK Hynix contributed to the market downturn in Kospi which crashed 9% in the previous session. 

SK Hynix shares fell 15.37% to 1,845,000 won and Samsung Electronics tanked 10.7% to 254,500 won.

SK Hynix and Samsung Electronics account for over 60% of KOSPI’s total market capitalization, leaving the index highly sensitive to movements in semiconductor stocks.

Meanwhile, renewed fighting in the Middle East disrupted tanker traffic through the Strait of Hormuz, a key shipping route for crude exports from the Persian Gulf. The supply concerns intensified after US President Donald Trump announced the reinstatement of a blockade aimed at preventing tankers carrying Iranian oil from using the strategic waterway. Trump also proposed a 20% charge on all cargo transiting the strait, saying the proceeds should compensate the United States for providing security in the region.

Even after the recent rally, Brent crude remains well below the peaks seen during earlier geopolitical crises, when the global benchmark briefly traded close to $120 a barrel on fears of widespread supply disruptions.