Oil and the fear of a bubble in AI drag global markets into a black day

Oil prices have surged past $111 per barrel due to tensions in the Strait of Hormuz and rising global demand forecasts. The Saudi oil company Aramco predicts an increase in crude demand by nearly three million barrels daily. Concurrently, U.S. stock markets have declined, with the Ibex 35 dropping 1.86% amid concerns over inflation and rising interest rates. European bond yields are also rising, particularly in France, where yields have surpassed 5%. The tech sector faces instability due to rising investment costs and regulatory pressures in China, impacting stocks globally. Asian markets have also closed lower, reflecting these concerns.