business
Oil prices jump following the latest fighting in the Middle East, while AI stocks sink
By Associated Press at Odessa American (oaoa.com)
· July 13, 2026
· 4 min read
By STAN CHOE
AP Business Writer
NEW YORK Oil prices jumped Monday following a weekend of attacks in the Middle East, while more losses for computer chip companies and other winners of the artificial-intelligence boom dragged stock markets lower.
The price for a barrel of Brent crude oil, the int...
Key takeaway 30 after the United States and Iran each said the Strait of Hormuz is under its control.
Why this matters in The Odessa
The surge in oil prices has significant implications for the Odessa economy, given the city's strong ties to the oil and gas industry. As the price of Brent crude oil climbs, local businesses and workers in the Permian Basin may see an increase in demand for their services, potentially leading to a boost in economic activity. However, this uptick may be tempered by the decline in AI-related stocks, which could have a ripple effect on the local tech sector. While Odessa is not typically associated with the tech industry, the city's economy is increasingly diversifying, and any downturn in the tech sector could have unintended consequences. As the situation in the Middle East continues to unfold, Odessa residents should keep a close eye on the price of oil and its impact on the local economy, as well as any potential spillover effects from the AI industry's volatility.
About this story
Original reporting by Odessa American (oaoa.com) . The Odessa surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit Odessa American (oaoa.com) . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: July 13, 2026 ·
Source: Odessa American (oaoa.com) ·
Reading time: 4 min
Get more The Odessa stories like this
Free weekly briefing covering business and other local news. Curated by our editorial team. No spam.
By subscribing you agree to our privacy policy . Unsubscribe anytime.
Frequently asked about this story
What is this story about? By STAN CHOE
AP Business Writer
NEW YORK Oil prices jumped Monday following a weekend of attacks in the Middle East, while more losses for computer chip companies and other winners of the artificial-intelligence boom dragged stock markets lower.
The price for a barrel of Brent crude oil, the int...
When was this published? This article was first published on July 13, 2026 by Odessa American (oaoa.com) and curated for The Odessa readers.
Who reported this story? This story was reported by Associated Press at Odessa American (oaoa.com). To learn more about how The Odessa selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The Odessa, or browse our daily briefing and topic hubs .
← Back to all news
More business →
Today’s briefing
Subscribe to newsletter