Middle East escalation and oil surge

Market update for Monday March 2, 2026

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In today’s episode:

• Oil surges 8% after U.S.–Iran conflict escalates and shipping through the Strait of Hormuz faces disruption

• Anthropic blacklisted by the Pentagon after refusing expanded AI use in military operations

• OpenAI raises a record $110 billion at a $730B valuation backed by Amazon, Nvidia, and SoftBank

• Defense stocks soar 

• Berkshire Hathaway falls

• Fun Fact: Red Bull sells 14 billion cans and still dominates the energy drink market