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Brent Crude Surpasses $101, Closing at Its Highest Level Since May as Persian Gulf Conflict Deepens

Brent crude closed above $101 at its highest level since May as renewed U.S.-Iran fighting in the Persian Gulf raised concerns about exports through the Strait of Hormuz.

Crude oil prices rose more than 3% Wednesday amid escalating clashes between the U.S. and Iran in the Persian Gulf, intensifying investor concern that energy shipments through the Strait of Hormuz could decline.

Brent crude futures

On Tuesday, the U.S. military destroyed five Iranian crude oil tankers in response to alleged attempts to attack an American warship. U.S. Central Command said the vessel successfully avoided the assault and that no American personnel were injured.

U.S. fuel prices are reaching new records as the war in the Middle East escalates once again.

Gasoline prices reached a Labor Day record of $4.15 a gallon Monday. Patrick De Haan, GasBuddy’s head of petroleum analysis, said in a Wednesday social media post that diesel could hit $6 a gallon for the first time in the coming days.

With the U.S.-Iran conflict now entering its seventh month, the renewed escalation is increasing the risk that oil could surge above $120 a barrel as attacks on shipping intensify, Daan Struyven, co-head of global commodities research at Goldman Sachs, told Verum’s “Squawk Box Asia.”

Goldman’s baseline forecast still calls for Persian Gulf exports to recover gradually as producers adjust to disruptions, including by using alternative shipping routes and, eventually, expanding pipeline capacity.

However, Struyven said the latest escalation has made a more bullish outcome more likely, with exports failing to recover over the next several months because of attacks on tankers.

For roughly a month after a surge of violence in July, the U.S. and Iran largely avoided further fighting, and Washington shifted its focus to applying economic pressure on Tehran. The fighting has resumed as Iran continues targeting commercial traffic traveling through and near the Strait of Hormuz.

Technologies

Experts weigh in as researcher says AI has more than 10% chance of ‘killing all humans’

Jacob Coxon said in a post on X that Anthropic and OpenAI are “gambling with our lives.”

An artificial intelligence researcher quit his job at Anthropic on Tuesday and accused the company, and its chief rival, OpenAI, of acting irresponsibly, igniting a frenzy of concern on social media about the rapid pace of the technology’s development.

Jacob Coxon, who has worked as a researcher at both companies, said in a post on X that he resigned out of concern that Anthropic and OpenAI are “gambling with our lives.” He said the people building AI “earnestly believe that it could kill us all by the end of the decade.”

“Do not underestimate the power of this technology,” Coxon wrote. “These will soon be superhuman systems that can hack anything, revolutionize any field overnight, and acquire real power and resources.”

Coxon’s post, which has been viewed more than 70 million times, reflects a long-standing debate in Silicon Valley about whether AI can be safely developed and controlled. As Anthropic and OpenAI barrel toward potentially historic initial public offerings while releasing increasingly advanced models, many researchers are calling for a coordinated slowdown.

OpenAI’s chief scientist, Jakub Pachocki, published a blog post on Sunday and warned that no AI company has “solved alignment and monitoring to a sufficient degree to continue responsibly scaling at maximum speed for much longer.” In the AI industry, alignment refers to the work by AI developers to ensure that the system behaves in accordance with human values and intentions.

“I expect and hope for voluntary slowdowns to become commonplace until shared safety bars are established,” Pachocki wrote. “And I believe that international coordination on future AI development needs to become a top priority for governments around the world.”

Coxon’s post on Tuesday also struck a chord with industry researchers who are worried about recursive self-improvement, or an AI system becoming capable of designing and developing its successor without human intervention. Recursive self-improvement is not yet possible, but companies, including Anthropic and OpenAI, have warned that it would make it easier for humans to lose control over those systems.

“Neither company is acting responsibly,” Coxon wrote. “They are racing straight to self-improving superintelligence.”

Evan Hubinger, an alignment lead at Anthropic, echoed Coxon’s comments in a post on X late Tuesday.

“Jacob is correct here—we really do earnestly believe AI could kill all humans! I personally think it is >10% within the next decade,” Hubinger wrote. “I believe Anthropic is trying its best, but we do not yet have a plan to solve alignment for superintelligence and are not clearly on track to.”

While extreme, concerns about the potential for AI to cause human extinction or other catastrophic events are not new in AI research circles. In 2023, for instance, prominent AI researchers and executives, including OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei, signed a statement that said “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war.”

Some experts even use a shorthand, p(doom), to estimate the probability of dire outcomes that could stem from AI.

Anthropic’s Hubinger was also one of roughly 1,400 AI researchers who signed an open letter called “Pacing the Frontier” in July. The letter urged the U.S. government to develop the tools necessary to support an effort to “deliberately pace the frontier of automated AI development.”

Some members of Congress have taken steps to try and address AI’s rapid advancement in the months following, but there’s no clear consensus about how the technology should be regulated.

In July, Rep. Jay Obernolte, R-Calif., and Rep. Lori Trahan, D-Mass., introduced a bill called the FRONTIER Act, which aims to establish a framework for governing the deployment of advanced AI models. And earlier this month, Sen. Bernie Sanders, I-Vt., and Rep. Greg Casar, D-Texas, introduced a bill called the Ban Artificial Superintelligence Act, which would temporarily pause advanced AI development until the federal government establishes safety rules. Both bills have been met with mixed receptions.

“Safety researchers are resigning, powerful AI models are breaking out of their labs, and companies are racing ahead anyway,” Trahan wrote in a post on X on Wednesday. “It’s past time for Congress to get off the sidelines and do its job.”

Lawmakers are also trying to navigate growing public backlash against AI data centers, the large facilities that house the hardware for training and running AI models. The pushback has grown so intense that the The National Republican Senatorial Committee, or NRSC, said last month that data centers have become a “sleeper issue” for the entire midterm election cycle, as CNBC previously reported.

Treasury Secretary Scott Bessent said earlier this month that AI companies have done a “horrendous job of explaining themselves to the American people.”

“They’re going to have to take some of the blame, and they are going to have to convince the American people that all the benefits will not accrue to a small group,” Bessent said, following the G20 meetings with finance ministers and central bankers in Asheville, North Carolina. “That’s what they hear from me.”

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Technologies

TV Series ‘South Park’ Renames Itself ‘South America’ in Apparent Nod to Trump’s Geographic Changes

“South Park” will become “South America” as its 29th season approaches, echoing recent geographic-name changes associated with President Donald Trump.

Television comedy series “South Park” says it will go by “South America” as its 29th season is scheduled to premiere on Sept. 16.

Creators Trey Parker and Matt Stone wrote, “Inspired by the bravery and patriotism of Apple and Google, we are changing the name of South Park to SOUTH AMERICA. We especially want to thank our parent company Paramount — a Skydance Capitulation.”

Their announcement followed U.S. President Donald Trump’s executive order renaming Lake Ontario as Lake America during a trade dispute with Canada. Canadian officials said they would not acknowledge the new name.

Apple and Google subsequently updated Lake Ontario in their map applications, showing U.S. users “Lake America” and Canadian users “Lake Ontario.”

The move also came a day after Trump shared AI-generated Truth Social posts suggesting that New Mexico should be renamed “New America.”

Last year, Trump used an executive order to rename the Gulf of Mexico the Gulf of America, drawing international opposition.

“South Park” won an Emmy for Outstanding Animated Program for “Sermon on the Mount,” an episode that premiered last year and parodies Trump’s presidency.

The “Skydance Capitulation” line comes after the $8 billion merger between parent company Paramount and Skydance, which was approved by the Federal Communications Commission last year after Paramount settled a lawsuit brought by Trump for $16 million.

Trump had alleged that an interview aired on CBS’s “60 Minutes” in 2024 with then-presidential candidate Kamala Harris was deceptively edited.

Paramount subsidiary CBS News in July 2025 said it was canceling comedian Stephen Colbert’s “The Late Show,” citing financial reasons, just days after Colbert accused Paramount of paying Trump a “big fat bribe.” The final episode aired in May.

Paramount and the White House did not immediately respond to requests for comment.

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Technologies

Trump says he has no regrets about starting the Iran war as U.S. dials up economic pressure

Speaking to Fox News presenter Laura Ingraham, Trump said that he would have attacked Iran despite the impact on the midterm elections.

U.S. President Donald Trump said he has no regrets about starting the Iran war and added that “If I had it to do again, I would do exactly what I did.”

Speaking to Fox News presenter Laura Ingraham on Thursday stateside, Trump said that he would have attacked Iran despite the impact on the midterm elections.

“If we hadn’t done Iran, you would be cruising to midterms victory right now,” Ingraham told Trump, to which Trump replied “supposing we were cruising, and all of a sudden Iran has a nuclear weapon. They would use it.”

He added that if Iran had a nuclear weapon, the Islamic Republic would “wipe out” Israel and the Middle East, and start hitting U.S. cities.

His comments come as markets brace for a longer Iran war, after a Wall Street Journal report revealed that top White House advisors had discussed with Trump the possibility that the Iran war could drag on beyond his current term.

Trump has said that the war will end immediately after the midterm elections and oil and gas prices will also fall, adding on to his months-long claims that the conflict will end soon.

In separate comments to NewsNation on Thursday, Trump denied reports that there was any damage to U.S. assets, after Iran claimed it had damaged multiple U.S. fighter aircraft at a base in Jordan.

“No damage. No nothing,” Trump said, when asked if there was any truth to the reports.

Economic pressure

Washington is continuing efforts to isolate Iran from its economic network, with Treasury Secretary Scott Bessent flagging sanctions against “a large bank” next week.

“We’re going to do it on Monday because we want to honor the memory of our fallen citizens on 9/11. But watch this space on Monday.”

Bessent said that the administration has sanctioned and closed the Dubai branches of the second largest bank in Egypt, claiming that the bank had given the Iran $1.8 billion dollars. The “largest Turkish bank” that had been giving to the Iranians was also sanctioned, although Bessent did not specify which bank were these.

Trump, in the NewsNation interview, was also asked how Iran could continue holding out under the current economic pressure.

“I don’t know that they’re gonna be able to hold out,” Trump said. “But it’ll get settled after the elections. Or maybe sooner. But it’ll get settled right after the election.”

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