Good morning and welcome to Markets Desk.
Oil markets are moving sharply higher after President Trump rejected an Iranian proposal to reopen the Strait of Hormuz, pushing crude up more than one percent. With the strait still effectively closed and no diplomatic off-ramp in sight, supply disruption fears are back on the table, and traders are pricing in a prolonged standoff.
Adding to the energy picture, three Iranian tankers seized during the early weeks of the conflict are now making their way toward U.S. waters, carrying an estimated six hundred million dollars worth of crude. The Tifani and Majestic X are currently off the coast of Brazil, with a third vessel having cleared the Atlantic. Maritime law and prize seizure doctrine are suddenly very relevant conversations again.
Meanwhile in AI infrastructure, Nebius is raising the price of its on-demand Nvidia GPU compute by between seventeen and twenty-one percent starting October first. That kind of pricing power signals one thing clearly — demand for high-performance AI compute continues to outstrip available supply, and cloud providers are not shy about passing that scarcity directly to customers.
That's the tape. Markets Desk, signing off the floor.
