Brent Oil Tops $100 per Barrel Amid Middle East Tensions

A sell-off of AI-related shares is underway in Asia as Brent oil tops $100 per barrel for the first time since May.

The price spike comes after heavy fighting in the Middle East threatens to slow the global flow of oil and gas, with attacks on two Saudi oil tankers in the Red Sea being a major concern.

In the US, Alphabet and Tesla shares tumbled, leading to the worst loss for U.S. stocks in a month, as investors worry about rising oil prices cutting into consumers' spending power.

The Trump administration's 10% to 12.5% tariffs on imports from 60 trading partners are also contributing to market uncertainty, with the US dollar reaching a 40-year high against the Japanese yen at $163.83.