Oil Rises on Mideast Missiles; AI Stocks Lift Markets

Oil prices rose for a third straight day on June 3, 2026, after fresh missile exchanges between the United States and Iran raised supply risk, with West Texas Intermediate up about 3.2 percent near $96.73 a barrel and Brent up about 2.9 percent near $98.80, according to Reuters. U.S. Central Command said Iran fired missiles at Kuwait and Bahrain and that U.S. forces struck back, after a tentative deal to halt the conflict went unsigned, Reuters reported. The AI trade stayed resilient despite the tensions: stock indexes hit record highs in Taiwan and Japan, and Marvell Technology jumped about 32.5 percent after Nvidia's CEO called it a potential trillion-dollar company, per Reuters. U.S. benchmarks, however, slipped on the renewed attacks, with the Dow down 1.21 percent, the S&P 500 off 0.74 percent and the Nasdaq down 0.89 percent.