{"id":59721,"date":"2026-03-12T20:38:37","date_gmt":"2026-03-13T00:38:37","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/oil-surges-past-100-amid-iran-conflict-as-asian-markets-plunge-meta-delays-ai-launch\/59721\/"},"modified":"2026-03-12T20:38:37","modified_gmt":"2026-03-13T00:38:37","slug":"oil-surges-past-100-amid-iran-conflict-as-asian-markets-plunge-meta-delays-ai-launch","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/oil-surges-past-100-amid-iran-conflict-as-asian-markets-plunge-meta-delays-ai-launch\/59721\/","title":{"rendered":"Oil Surges Past $100 Amid Iran Conflict as Asian Markets Plunge; Meta Delays AI Launch"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Brent crude surged above $100 per barrel<\/strong> after Iran\u2019s new Supreme Leader vowed to continue blocking the <strong>Strait of Hormuz<\/strong>, triggering a global flight from risk assets.<\/li>\n<li><strong>Asian equity markets plummeted<\/strong>, with the <strong>KOSPI (<a href=\"\/stock\/%5EKS11\">^KS11<\/a>)<\/strong> dropping <strong>3.0%<\/strong> and the <strong>Nikkei 225 (<a href=\"\/stock\/%5EN225\">^N225<\/a>)<\/strong> falling <strong>2.1%<\/strong> as geopolitical tensions reached a boiling point.<\/li>\n<li><strong>Meta Platforms (<a href=\"\/stock\/META\">META<\/a>) postponed its &quot;Avocado&quot; AI model<\/strong> until at least May after internal tests showed it lagged behind rivals from <strong>OpenAI<\/strong> and Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>).<\/li>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> stabilized near $5,080 an ounce<\/strong>, maintaining record levels as investors sought a hedge against war-driven inflation and supply chain disruptions.<\/li>\n<li><strong>The U.S. Treasury issued a general license<\/strong> for Russian crude oil already in transit to stabilize markets, while Secretary Scott Bessent characterized the oil spike as a &quot;short-term disruption.&quot;<\/li>\n<\/ul>\n<p>The global energy market entered a state of high volatility on Friday as <strong>Brent crude prices broke the $100 threshold<\/strong> following a defiant stance from Iran&#39;s leadership. The blockade of the <strong>Strait of Hormuz<\/strong>, a critical artery for 20% of the world&#39;s oil supply, has fueled fears of a prolonged inflationary shock. <em>Market analysts warn that a continued closure could push prices toward $150, threatening to derail the global economic recovery.<\/em><\/p>\n<p>Asian equity indices bore the brunt of the geopolitical fallout during early trading. The <strong>Nikkei 225<\/strong> extended its decline to <strong>2.1%<\/strong>, while the <strong>KOSPI<\/strong> sank <strong>3.0%<\/strong> and Australia\u2019s <strong>ASX 200<\/strong> fell <strong>0.2%<\/strong>. These losses followed a weak lead from the <strong><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong>, as the prospect of a widened war between the United States and Iran forced a massive rotation out of equities and into safe-haven assets.<\/p>\n<p>In the technology sector, <strong>Meta Platforms (<a href=\"\/stock\/META\">META<\/a>)<\/strong> has officially delayed the release of its next-generation AI model, code-named <strong>&quot;Avocado.&quot;<\/strong> Originally slated for a March launch, the project is now pushed back until at least May after internal testing revealed it trailed competitors from <strong>OpenAI<\/strong>, <strong>Anthropic<\/strong>, and <strong>Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong> in reasoning, coding, and writing. <em>The delay underscores the intensifying pressure on Meta to justify its multi-billion dollar AI investments as it struggles to match the performance of industry leaders.<\/em><\/p>\n<p>Meanwhile, <strong>Nscale<\/strong>, a prominent cloud partner for <strong>Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong>, is reportedly in talks to acquire a major U.S. data center site. The acquisition is intended to bolster the company&#39;s infrastructure footprint ahead of its highly anticipated <strong>Initial Public Offering (IPO)<\/strong>. <em>Securing large-scale physical capacity is seen as a critical strategic move for Nscale to meet the insatiable demand for GPU-powered AI compute.<\/em><\/p>\n<p>On the policy front, the <strong>United States, Japan, and the European Union<\/strong> are advancing a landmark <strong>critical minerals trade agreement<\/strong>. The pact is expected to include <strong>price floors and tariffs<\/strong> designed to counter market distortions attributed to China\u2019s dominance in the sector. This strategic move aims to secure supply chains for materials essential to the energy transition and advanced military technologies.<\/p>\n<p>U.S. Treasury Secretary <strong>Scott Bessent<\/strong> sought to calm markets by clarifying that a new <strong>OFAC general license<\/strong> for Russian oil applies only to shipments already loaded on vessels as of March 12. Bessent emphasized that the measure is a tactical move to maintain supply and will not provide significant financial benefit to the Russian government. <em>He further stated that while the current oil price spike is disruptive, the U.S. economy stands to see a &quot;massive benefit&quot; in the long term from shifting energy dynamics.<\/em><\/p>\n<p>Finally, <strong>Australia\u2019s Energy Minister<\/strong> announced modifications to the <strong>minimum stock obligation<\/strong> for diesel and fuel to bolster domestic energy security. This adjustment follows the broader trend of nations reassessing strategic reserves as the conflict in the Middle East continues to choke global supply lines. <strong>Gold<\/strong> remains a primary beneficiary of the uncertainty, holding steady near <strong>$5,080 an ounce<\/strong> after a brief two-day retreat.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Brent crude surged above $100 per barrel after Iran\u2019s new Supreme Leader vowed to continue blocking the Strait 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