Crude Oil Taps 3-Month High, META Launches Muse AI & Bracing for AAPL Event

Crude oil prices surged to three-month highs, with WTI crude trading at $95.60 per barrel and Brent crude breaking above the $100 benchmark. The rally is being driven by escalating geopolitical conflict between the United States and Iran, marked by U.S. strikes destroying five Iranian tankers off Kharg Island and retaliatory Iranian strikes against eight commercial vessels and tankers. Global shipping disruptions in key chokepoints including the Strait of Hormuz have pushed daily tanker rates up by 4x to 5x, exacerbating supply chain pressures. The energy spike is generating widespread inflationary concerns across global markets as retail diesel hits record highs and LNG tanker shortages threaten European and Asian energy security. Meanwhile, broader equity markets are facing downward pressure due to the energy shock, although tech names saw divergence. Meta Platforms gained pre-market momentum following the launch of its personal AI agent 'Muse', while Apple traded flat ahead of its product launch event featuring anticipated foldable hardware. Analysts warn energy-driven inflation poses unique policy challenges for central banks.