Oil slides to lowest since Iran war as markets turn away from AI stocks (opens original article in a new tab)

Oil prices dropped to their lowest level since the US-Iran war as more ships returned to the Strait of Hormuz, while global tech stocks declined amid concerns over AI valuations.

• Oil prices fell below US$75 a barrel, the lowest since the US-Iran war began
• More commercial vessels returned to the Strait of Hormuz following the US-Iran agreement
• Global tech stocks weakened as investors questioned AI valuations
• Dollar rose to a seven-month high amid expectations of potential US interest rate hikes