{"id":60477,"date":"2026-04-02T15:38:25","date_gmt":"2026-04-02T19:38:25","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/middle-east-crisis-oil-surges-8-as-iran-closes-strait-of-hormuz-and-targets-oracle-data-center\/60477\/"},"modified":"2026-04-02T15:38:25","modified_gmt":"2026-04-02T19:38:25","slug":"middle-east-crisis-oil-surges-8-as-iran-closes-strait-of-hormuz-and-targets-oracle-data-center","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/middle-east-crisis-oil-surges-8-as-iran-closes-strait-of-hormuz-and-targets-oracle-data-center\/60477\/","title":{"rendered":"Middle East Crisis: Oil Surges 8% as Iran Closes Strait of Hormuz and Targets Oracle Data Center"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/middle-east-crisis-oil-surges-8-as-iran-closes-strait-of-hormuz-and-targets-oracle-data-center\/60477\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/middle-east-crisis-oil-surges-8-as-iran-closes-strait-of-hormuz-and-targets-oracle-data-center\/60477\/#Energy_Markets_Reeling_from_Hormuz_Closure\" >Energy Markets Reeling from Hormuz Closure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/middle-east-crisis-oil-surges-8-as-iran-closes-strait-of-hormuz-and-targets-oracle-data-center\/60477\/#IRGC_Targets_Corporate_Infrastructure_in_Dubai\" >IRGC Targets Corporate Infrastructure in Dubai<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/middle-east-crisis-oil-surges-8-as-iran-closes-strait-of-hormuz-and-targets-oracle-data-center\/60477\/#Joint_Missile_Barrage_Targets_Tel_Aviv\" >Joint Missile Barrage Targets Tel Aviv<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/middle-east-crisis-oil-surges-8-as-iran-closes-strait-of-hormuz-and-targets-oracle-data-center\/60477\/#Regional_Diplomatic_Fallout_and_Defense_Treaties\" >Regional Diplomatic Fallout and Defense Treaties<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/middle-east-crisis-oil-surges-8-as-iran-closes-strait-of-hormuz-and-targets-oracle-data-center\/60477\/#Google_Updates_Gemini_API_Tiers\" >Google Updates Gemini API Tiers<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Brent Crude futures surged 7.78% to settle at $109.03 per barrel<\/strong> following Iran&#39;s declaration of a long-term closure of the <strong>Strait of Hormuz<\/strong> to U.S. and Israeli vessels.<\/li>\n<li><strong>Iran\u2019s Islamic Revolutionary Guard Corps (IRGC)<\/strong> claimed a direct strike on an <strong>Oracle (<a href=\"\/stock\/ORCL\">ORCL<\/a>)<\/strong> data center in <strong>Dubai<\/strong>, marking a significant escalation in targeting Western corporate infrastructure.<\/li>\n<li><strong>A joint military operation<\/strong> involving the <strong>Houthis<\/strong>, <strong>Iran<\/strong>, and <strong>Hezbollah<\/strong> targeted the <strong>Tel Aviv<\/strong> and <strong>Yafa<\/strong> areas with a barrage of ballistic missiles.<\/li>\n<li><strong>Jordan<\/strong> has called for the immediate activation of the <strong>Joint Arab Defence Treaty<\/strong>, citing Iranian efforts to incite minorities within Gulf states.<\/li>\n<li><strong>Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong> introduced two new service tiers for its <strong>Gemini API<\/strong>, implementing enforced spending caps and prepaid billing structures amid the regional volatility.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Energy_Markets_Reeling_from_Hormuz_Closure\"><\/span>Energy Markets Reeling from Hormuz Closure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Global energy markets experienced a massive shock on Thursday as <strong>Brent Crude<\/strong> prices jumped <strong>$7.87<\/strong> to settle at <strong>$109.03\/bbl<\/strong>. The spike follows a statement from Iranian Military Spokesman <strong>Shekarchi<\/strong>, who announced that the <strong>Strait of Hormuz<\/strong> will remain closed &quot;long-term&quot; to any vessels associated with the <strong>United States<\/strong> or <strong>Israel<\/strong>.<\/p>\n<p>Shipping data indicates that traffic through the vital waterway has already plummeted by approximately <strong>94%<\/strong> compared to last year. Analysts warn that a prolonged blockade of the world\u2019s most important oil chokepoint could push the global economy into a deep recession, as nearly <strong>20%<\/strong> of the world&#39;s daily oil supply is currently at risk.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"IRGC_Targets_Corporate_Infrastructure_in_Dubai\"><\/span>IRGC Targets Corporate Infrastructure in Dubai<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a major shift in tactical targeting, the <strong>IRGC<\/strong> announced via state media that they have successfully targeted a data center owned by <strong>Oracle (<a href=\"\/stock\/ORCL\">ORCL<\/a>)<\/strong> in <strong>Dubai<\/strong>. This follows previous threats from Tehran to strike <strong>18 major American technology firms<\/strong>\u2014including <strong>Microsoft (<a href=\"\/stock\/MSFT\">MSFT<\/a>)<\/strong>, <strong>Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong>, and <strong>Intel (<a href=\"\/stock\/INTC\">INTC<\/a>)<\/strong>\u2014which Iran accuses of aiding U.S. and Israeli intelligence operations.<\/p>\n<p>The attack on civilian digital infrastructure has sent ripples through the <strong>United Arab Emirates&#39;<\/strong> tech sector, which has recently positioned itself as a global hub for AI and cloud computing. Iranian Foreign Minister <strong>Araghchi<\/strong> remained defiant, stating that striking civilian structures would not force a surrender and that &quot;every bridge and building will be rebuilt stronger.&quot;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Joint_Missile_Barrage_Targets_Tel_Aviv\"><\/span>Joint Missile Barrage Targets Tel Aviv<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Houthis<\/strong> in Yemen confirmed they conducted a &quot;joint operation&quot; with <strong>Iran<\/strong> and <strong>Hezbollah<\/strong> against &quot;vital targets&quot; in the <strong>Tel Aviv<\/strong> and <strong>Yafa<\/strong> areas. The group reportedly utilized a barrage of ballistic missiles, some of which were intercepted by Israeli air defenses, though impacts were reported in central Israel.<\/p>\n<p>This coordinated strike underscores the deepening military integration between Tehran and its regional proxies. The <strong>Houthi<\/strong> military leadership warned of further &quot;direct military interventions&quot; if the <strong>U.S.<\/strong> and <strong>Israel<\/strong> continue their campaign against Iranian territory.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Regional_Diplomatic_Fallout_and_Defense_Treaties\"><\/span>Regional Diplomatic Fallout and Defense Treaties<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Jordan\u2019s Senate Speaker<\/strong> has urged the activation of the <strong>Joint Arab Defence Treaty<\/strong> to coordinate a collective response to the escalating conflict. The call comes as <strong>Jordanian<\/strong> officials accuse <strong>Iran<\/strong> of actively inciting Shiite minorities in <strong>Gulf states<\/strong> to destabilize regional governments.<\/p>\n<p>While the <strong>United Kingdom<\/strong> and <strong>40 other nations<\/strong> held virtual talks on Thursday to discuss reopening the <strong>Strait of Hormuz<\/strong>, the <strong>U.S.<\/strong> has signaled a preference for continued strikes over a forced reopening. <strong>President Trump<\/strong> recently asserted that U.S. military objectives are &quot;nearing completion,&quot; though market participants remain skeptical of a near-term resolution.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Google_Updates_Gemini_API_Tiers\"><\/span>Google Updates Gemini API Tiers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Amid the geopolitical turmoil, <strong>Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong> has officially added two new service tiers to its <strong>Gemini API<\/strong> billing structure. The update introduces <strong>Tier 2<\/strong> and <strong>Tier 3<\/strong> levels, which include enforced monthly spend caps ranging from <strong>$2,000<\/strong> to over <strong>$100,000<\/strong>.<\/p>\n<p>These changes, effective as of <strong>April 1, 2026<\/strong>, are designed to provide developers with more granular control over costs. The move follows a restructuring of <strong>Google\u2019s<\/strong> AI billing system intended to prevent unexpected charges and manage high-demand enterprise usage during periods of global instability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Brent Crude futures surged 7.78% to settle at $109.03 per barrel following Iran&#39;s declaration of a long-term closure [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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