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How Strait of Hormuz tensions drove oil up 5.17% amid flat US market open — Market Wrap Aug 11
Today's AI insights from 7horns.ai reveal a mixed global market backdrop with a flat U.S. open as geopolitical tensions near the Strait of Hormuz sparked a sharp oil rally. Brent crude surged 5.17% to $87.87 a barrel, pushing the United States Oil Fund up 6.73% yesterday and continuing gains with a 2.22% pre-market rise. Energy stocks like Transocean jumped 8.75% on the rally. Meanwhile, the tech sector faced pressure with artificial intelligence hardware names falling sharply; Coherent dropped 14.24%, Lumentum Holdings declined 8.61%, and Nvidia slipped 2.86% but showed a modest pre-market…
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