Oil prices breach $100 as Middle East tensions escalate. Crude surged past the $100 mark following intensified US and Israeli military operations in Iran, with the Strait of Hormuz effectively halted. The geopolitical escalation has significant implications for global energy markets and inflation concerns. Meanwhile, Oracle and OpenAI have abandoned plans for a major AI data center expansion in Texas after financing negotiations collapsed, signaling potential slowdown in tech infrastructure investment. Domestically, South African factory operations face disruption as regulatory oversight visits turn contentious, with disputes over workplace compliance shuttering production facilities and raising questions about business operating conditions in the country.
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