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Oil prices were jumping higher after the U.S. military intercepted Iranian ballistic missiles aimed at American forces in Jordan. Shortly after the attack, the U.S. and Saudi Arabia launched strikes in Iraq against Iran-backed groups that the Islamic Revolutionary Guard Corps previously directed to attack American troops and Saudi energy infrastructure. The escalation in hostilities hit market hopes that the vital Strait of Hormuz waterway would reopen.

Chevron (NYSE:CVX) has launched a new business with GE Vernova and Microsoft to supply natural gas power to AI data centers. The company has also signed a five year extension to supply natural gas to Alinta Energy in Western Australia. Chevron is best known for its oil and gas production. This new move into powering AI data centers links its existing natural gas operations with a fast growing digital infrastructure sector. The partnership with GE Vernova and Microsoft positions Chevron...

The oil and gas giant is teaming with GE Vernova to power next-generation AI data centers.

The Nasdaq Composite and S&P 500 were down, while the Dow Jones Industrial Average was up in late-mo