# Oil Prices Surge While Tech Stocks Plummet Amid Escalating US-Iran Tensions

*Oil prices continued to rise while tech stocks fell sharply following fresh US strikes against Iran.*

July 14, 2026 · business

Oil prices extended gains while tech stocks suffered further losses following fresh US strikes against Iran, marking a new escalation in hostilities. The strikes followed Iranian forces attacking a commercial ship in the Strait of Hormuz, a critical global oil passage. President Donald Trump announced a 20 percent fee on all cargo shipped through the strait, though he also indicated a deal with Tehran was still possible. Tech firms, particularly in South Korea, faced significant selloffs amid growing concerns about the AI boom.

## FAQs

**What caused the rise in oil prices?**
The rise in oil prices was driven by fresh US strikes against Iran and the subsequent closure of the Strait of Hormuz, a critical global oil passage.

**Why are tech stocks falling?**
Tech stocks, particularly in South Korea, are falling due to growing fears about the sustainability of the AI-led rally and concerns over market overvaluation.

**What did President Trump announce regarding the Strait of Hormuz?**
President Trump announced a 20 percent fee on all cargo shipped through the Strait of Hormuz and declared the United States would be 'THE GUARDIAN OF THE HORMUZ STRAIT'.

**Is a deal with Iran still possible?**
President Trump indicated that a deal with Iran to end the crisis was still possible, despite the escalating tensions.

## Sources

- BSS

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Source: https://pulsetoday.com.bd/en/business/oil-prices-rise-tech-stocks-fall-us-iran-tensions