CNBC Daily Open: Brent crude barrels back towards $100 CNBC Why isn't oil above $100 despite supply disruptions? Reuters Watch Brent Oil Price Climbs Toward $100 With Hormuz Flows Constrained Bloomberg.com Oil prices sur...
Daily Open CNBC Daily Open: Brent crude barrels back towards $100 Published Tue, Sep 8 2026 2:07 AM EDT Leonie Kidd WATCH LIVE Key Points Crude prices are rising due to tensions in the Middle East. Gasoline prices in the U.S. hit a record high for the Labor Day holiday. Global equities are mixed as U.S. investors return from the long weekend. Europe's AI darling, Mistral, hits a $24 billion valuation in its new fundraising. In this article
The "illusion of abundance" is fading, and predictions of a "return to normalization" in the Strait of Hormuz any time soon would be "very, very optimistic." This is the warning from commodity veteran Jeff Currie, as rising tensions in the Middle East send oil prices higher once again.
With U.S. investors returning from their long Labor Day weekend, the direction of trade looks set to be determined by the battle for the Strait and any incremental gains that can be made to ease this critical commodity chokepoint.
Crude prices have rallied back to six-week highs , with West Texas Intermediate trading above $93 a barrel and Brent crude oil futures marching back towards the $100 a barrel mark, currently trading over $97 a barrel in early trade on Tuesday.
Saudi Aramco oil facilities were hit in fresh attacks on Monday, according to a report by the Financial Times, putting oil markets on edge. The strike came after the U.S. military hit three Iranian oil tankers.
The tit-for-tat strikes have also helped drive gas prices higher.
In the U.S., gasoline prices have topped $4 per gallon, hitting a record high for Labor Day.
Amid the escalating tension, Iran has taken aim at Canada for supporting U.S. action in the Strait of Hormuz.
In a post on X, Tehran's Foreign Ministry spokesperson Esmaeil Baghaei said that Canada chose to "appease" the U.S. "on the very day the U.S. president, in blatant contempt for Canada's sovereignty and independence, portrayed the entire country as part of the United States."
Meanwhile, Canada's new tariffs on around $20 billion worth of U.S. goods take effect on Tuesday , and Bombardier has become a battleground . The Canadian airplane manufacturer has detailed its current U.S. footprint after President Donald Trump wrote on Truth Social , "NO MORE SELLING BOMBARDIER IN THE UNITED STATES!... If they want our Market, they must build here, and stop treating America like a 'piggybank.'"
Global markets continue to shrug off the geopolitical shocks, but HSBC sees some developments that could end that dynamic. Find out more here .
U.S. futures are mixed after the extended trading break for Labor Day. Across Asia, Japanese equities are under pressure as the yen holds near its strongest levels against the U.S. dollar since February.
Europe's AI darling, Mistral, has raised €3 billion ($3.5 billion) in funding at a €21 billion ($24 billion) valuation, with Samsung Electronics and EU-backed Scaleup Europe among the major investors. The French group is looking to position itself as a key rival to OpenAI and Anthropic. Hear from the CEO on Squawk Box Europe .
Inside Italy's banking M&A boom - and why Wall Street is watching
Italy has become the center of Europe's banking consolidation boom, with a wave of takeover bids reshaping the country's financial sector. This video explains what is driving the dealmaking, how battles for influence over banks including Monte dei Paschi and Mediobanca connect to insurer Generali, and why the outcome could have implications for Europe's push to build larger banks capable of competing with U.S. rivals.
Reporting synthesized and verified under Nexvoro.tech editorial guidelines. Full primary records referenced via Google News US Business & Markets.
OpenAI has formed a new independent mathematics advisory group hosted at the Institute for Advanced Study in Princeton following a surge in automated problem-solving. The move arrives amid mounting academic scrutiny regarding the rapid pace of artificial intelligence in advanced mathematical research.
As debate intensifies over the rapid acceleration of artificial intelligence, OpenAI has proposed a comprehensive framework for international safety standards, focusing heavily on alignment research and recursive self-improvement. The move follows recent high-profile departures and escalating concerns from industry insiders regarding humanity's long-term control over advanced frontier models.
As Washington fiercely debates artificial intelligence oversight, Nvidia CEO Jensen Huang has emerged as President Donald Trump's top confidant, successfully pushing back against growing regulatory pressures. While rival tech executives advocate for government slowdowns, the head of the world's most valuable chipmaker is charting a rapid course for American tech supremacy.
