Oil prices passed $100 per barrel on Sunday as the U.S.-Israeli war against Iran disrupts production and shipping in the Middle East.

This is the first time in nearly four years that oil prices reached this mark.

The price for a barrel of Brent crude, the international standard, rose to more than $107 after trading resumed on the Chicago Mercantile Exchange, a 16.5% jump from its Friday closing price of $92.69.

West Texas Intermediate, produced in the U.S., was up to about $106.22 a barrel, a 16.9% increase from when it closed on Friday at $90.90.

GAS PRICES SURGE AS IRAN CONFLICT RATTLES GLOBAL OIL MARKETS, PUSHING US CRUDE ABOVE $90

This comes after Brent climbed 28% and WTI rose 36% last week prior to the latest upticks.

Oil prices have jumped as the war impacts areas crucial to the production and shipping of oil and gas from the Persian Gulf.

About 15 million barrels of crude oil, which makes up about 20% of the oil around the world, are typically moved daily through the Strait of Hormuz, according to independent research firm Rystad Energy.

Concerns about Iranian missile and drone strikes have stalled tankers that would otherwise be traveling through the strait, which carry oil and gas from Middle East countries such as Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, the United Arab Emirates and Iran.

Iraq, Kuwait and the UAE have dropped their oil production over the strained ability to export crude.

Saudi Arabia is increasing shipments from the Red Sea, but the volumes are not enough to offset the dip from the Strait of Hormuz, according to shipping data.

Iran, Israel and the U.S. have attacked oil and gas facilities since the war began late last month.

The war could leave consumers and businesses around the world with weeks or even months of higher fuel prices, even if the conflict ends quickly, as suppliers deal with damaged facilities, disrupted logistics and elevated risks to shipping.

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The last time U.S. crude futures traded over $100 per barrel was the summer of 2022.

The average gallon of regular gasoline in the U.S. also increased on Sunday to $3.45, representing a 47-cent jump from about a week earlier, according to AAA motor club. Diesel was also selling for an average of about $4.60 a gallon, an increase of about 83 cents from the previous week.

Reuters contributed to this report.

Enterprise software giant Oracle is reportedly planning to ax thousands of jobs due to mounting financial pressure from its aggressive push to build AI-focused data centers.

The tech powerhouse may slash 20,000 to 30,000 positions, possibly cutting 12–18% of its global workforce of roughly 162,000 employees, tech magazine CIO reported.

The layoffs could be implemented as early as March 2026, Bloomberg reported.

The move is driven by a cash crunch from massive spending on data centers, which Wall Street expects will keep Oracle’s cash flow negative for years, forcing the company to seek alternative ways to preserve liquidity, Bloomberg said.  

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Additionally, several U.S. banks have scaled back financing for Oracle’s massive AI data center expansion, according to investment bank TD Cowen, cited by CIO.com. Lenders have reportedly voiced growing concerns over the company’s ability to repay debt given the enormous capital required to build infrastructure for high-profile AI clients such as OpenAI.

“Both equity and debt investors have raised questions regarding Oracle’s ability to finance this buildout,” the report said.

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The job cuts will span divisions across the company, focusing on roles Oracle expects to need less of due to AI, Bloomberg reported.

The move is also expected to free up $8 billion to $10 billion, TD Cowen said in a research report cited by CIO.

Led by Chairman Larry Ellison, Oracle is making a high-stakes, all-in bet on becoming a top-tier AI cloud provider to rival AWS, Microsoft and Salesforce.  

Ticker	Security	Last	Change	Change %
ORCL	ORACLE CORP.	152.93	-1.86	-1.20%

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The upcoming layoffs at Oracle are expected to be much larger and more extensive than the company’s usual smaller routine job cuts. 

Oracle reportedly told internal teams it would reassess many open positions in its cloud division while evaluating which roles are still necessary. However, planning for the workforce reductions is still ongoing and could change, Bloomberg reported.  

FOX Business reached out to Oracle for more information.  

Thailand’s luxury travel trend focuses on healing through gastronomy and wellness, offering culinary tours, active tourism, and vibrant city experiences, highlighting its diverse offerings and unique cultural festivals like Songkran.

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Key Points

• Thailand’s luxury travel trend focuses on “healing” through gastronomy and wellness, offering healthy food and active tourism experiences. Executive Director Suladda Sarutilavan emphasizes that healing is achieved via Thai cuisine and meditation.
• Gastronomy tours highlight the country’s renowned dishes and Michelin-star restaurants, especially in lesser-known regions. Combining healthy meals with activities like Thai boxing and marathons enhances the healing experience.
• Bangkok features green spaces like Lumphini Park and the new Dusit Central Park, offering exercise and cultural exploration. April’s Songkran Festival is recommended for first-time visitors, providing a unique way to celebrate the New Year with water festivities.

Emergence of Healing as Luxury in Thailand

In the hospitality sector, Thailand is positioning itself at the forefront of luxury travel trends, focusing on healing through gastronomy and wellness. According to Suladda Sarutilavan, Executive Director for Europe at the Tourism Authority of Thailand, the nation offers a transformative experience that enriches both body and mind. Culinary experiences such as Thai food, alongside mindfulness practices like meditation, signify that “healing is the new luxury.” Highlights include a vast array of regional cuisines, with unique options to explore in places like Chiang Mai and Khon Kaen, known for its Michelin-starred restaurants.

Exploring Bangkok’s Cultural and Natural Offerings

While many tourists flock to the outskirts for wellness retreats, Bangkok is a vibrant destination in its own right. Sarutilavan emphasizes that the city boasts several green spaces, notably Lumphini Park and the newly established Dusit Central Park, where locals and visitors alike can engage in exercise and community activities. After enjoying the city’s natural offerings, travelers can immerse themselves in Bangkok’s burgeoning arts scene by visiting creative districts like Song Wat and Charoen Krung, replete with street art, galleries, and cafes. This blend of culture, art, and wellness underscores the diverse experiences that Bangkok has to offer.

Upcoming Attractions and Festivals in Thailand

Looking toward the future, Thailand is set to welcome the interactive attraction, Jurassic World: The Experience, in Bangkok in 2026, inviting fans to engage with the cinematic world before exploring filming locations across the country. April emerges as a favorable time for first-time visitors, highlighted by the Songkran Festival, which marks the Thai New Year with lively water-splashing celebrations. This event offers a uniquely refreshing way to experience the culture and camaraderie that Thailand fosters during the hottest month of the year. As such, there is no better time to plan a trip to experience all that Thailand has to offer.

Source : Healing is the new luxury: How Thailand is luring tourists with gastronomy and wellness

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SINGAPORE, Oil prices surged about 20% in early trade on Monday, hitting their highest ‌since July ⁠2022, as ⁠the expanding U.S.-Israeli war with Iran fuelled fears of tighter supply and prolonged disruptions to shipments through the Strait of Hormuz.

Iran on Monday named Mojtaba Khamenei to succeed his father Ali Khamenei as Supreme Leader, signalling that hardliners remain firmly in charge in Tehran a week into its conflict with the United States and Israel.

Brent crude futures rose as ⁠much as $18.35, ‌or 19.8%, to $111.04 a barrel and were up $14.38, or 15.5%, at $107.07 as of 2314 GMT.

U.S. West Texas Intermediate (WTI) crude futures ⁠were up $15.27, or 16.8%, at $106.17, after rising as much as $20.34, or 22.4%, to $111.24 earlier in the session.

Brent climbed 27% and WTI rose 35.6% last week, before the latest jumps.

Israel’s military said it hit Iranian commanders in the Lebanese capital early on Sunday, expanding the scope of its campaign to the heart of Beirut after days of strikes that have left nearly 400 people dead.
Israel’s ‌military has threatened to kill any replacement for Khamenei, while U.S. President Donald Trump said the war might only end once Iran’s military and rulers ⁠had been wiped out.The war could leave consumers and businesses worldwide facing weeks or months of higher fuel prices even if the week-old conflict ends quickly, as suppliers grapple with damaged facilities, disrupted logistics and elevated risks to shipping.

Top oil exporter Saudi Arabia is increasing shipments from the Red Sea, but the volumes are far from enough to offset the drop from the crisis-hit Strait of Hormuz, shipping data showed.

SYDNEY, – Share markets slid in Asia on Monday as the inflationary pulse from surging oil prices threatened to raise living costs, and perhaps interest rates, across the globe, while an investor hunger for liquidity kept the U.S. dollar in demand.

Brent jumped 17% to $108.77 a barrel, the biggest daily gain since the start of the pandemic in 2020 and on top of a 28% rise last week. U.S. crude rose 18% to $107.56, threatening to push petrol prices quickly skyward.

Iran named ‌Mojtaba Khamenei to succeed his ⁠father Ali Khamenei ⁠as supreme leader, signalling that hardliners remain firmly in charge in Tehran a week into its conflict with the United States and Israel.

That was unlikely to be welcomed by U.S. President Donald Trump, who had declared the son “unacceptable”.

With no sign of an end to hostilities in the Middle East and tankers still not daring to cross the Strait of Hormuz, investors were bracing for a long stretch of higher energy costs. “The global economy remains dependent on the concentrated flow of Mideast oil and natural gas through the Strait of Hormuz,” noted Bruce Kasman, chief economist at JPMorgan.

“The near-term scenario is a near-term spike towards $120 bbl followed by moderation as the conflict soon subsides,” he added. “But absent a clear and decisive political resolution, Brent crude oil prices are expected to settle at an elevated $80 bbl through mid-year.”
Such an outcome could ⁠cut global ‌economic growth by an annualised 0.6% for the first half of this year, and raise consumer prices by an annual rate of 1%, Kasman said. He cautioned that a broader and sustained conflict could send oil above $120 a barrel and risk a global recession.

All of which was ⁠sober news for Japan as a major importer of oil and gas, sending the Nikkei down 6.2%, on top of a 5.5% drop last week.

South Korea’s high-flying market fell closer to earth with a drop of 7.3%, having already shed more than 10% last week.

The selling swept over Wall Street as S&P 500 futures shed 1.8%, while Nasdaq futures dived 2.1%. Over in Europe, EUROSTOXX 50 futures and DAX futures both slid 2.5%.

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In bond markets, the risk of rising inflation outweighed safe-haven considerations and 10-year Treasury note yields rose 5 basis points to 4.189%, up from a trough of 3.926% just a week ago.

Interest rate futures also slipped as investors feared the risk of higher inflation would make it harder for the Federal Reserve to ease policy, even though disappointing jobs numbers seemed to argue for stimulus.

Data on U.S. consumer prices due on ‌Wednesday is forecast to show the annual pace holding at 2.4% in February.

The Fed’s preferred measure of core inflation is out on Friday and is forecast to hold at 3.0%, well above the central bank’s 2% target, and analysts see a risk of an even higher number.

The danger of energy-driven inflation has led markets to wager the ⁠next move in rates from the European Central Bank could be up, possibly as early as June.

For the Bank of England, markets have also shifted to pricing just a 40% chance of one more easing, compared with two cuts or more before the Middle East conflict started.

Nervous investors sought the liquidity of dollars while shunning currencies from countries that are net energy importers, including Japan and much of Europe.

“Asia takes the brunt of the sharp escalation in oil prices and there are few places to run and hide,” said Vishnu Varathan, head of macro research Asia ex-Japan at Mizuho.

“The dollar has to be the one outperforming, given Japan and Korea’s exposures here and the sharp pain that can be expected from Brent at $107.”

The dollar firmed 0.4% to 158.45 yen, while the euro slipped 0.8% to $1.1520. The Australian dollar, often sold as a hedge during periods of market volatility, skidded 0.9% to $0.6964.

Gold fell 2.4% to $5,047 an ounce, with dealers speculating that investors were having to book profits made on the metal’s long climb to cover losses elsewhere. (Reporting by Wayne Cole; Editing by Edmund Klamann)