local
Oil prices rise following the latest fighting in the Middle East, as AI stocks sink
By ABC at KSTP 5 Eyewitness News (ABC)
· July 13, 2026
· 4 min read
NEW YORK (AP) — Oil prices are climbing Monday following a weekend of attacks in the Middle East, while more losses for computer chipmakers and other winners of the artificial-intelligence boom weigh on stock markets.
The price for a barrel of Brent crude oil, the international standard, rose 3.9...
Key takeaway 95 after the United States and Iran each said the Strait of Hormuz is under its control.
Why this matters in The Minneapolis
For Minneapolis residents, the surge in oil prices could mean higher costs at the pump, affecting commuters and local businesses that rely on transportation. As the international standard for crude oil, Brent crude's 4.7% rise to $79.59 per barrel may lead to increased fuel prices, potentially impacting the city's economy. Meanwhile, the decline in AI stocks, including chipmakers like Micron Technology and Nvidia, may have implications for the local tech industry. Although Minneapolis is not a major hub for AI companies, the city is home to a growing number of startups and businesses that utilize AI technology, and a downturn in the sector could affect their growth and investment prospects. As major banks, including Wells Fargo, release their profit reports this week, Minneapolis residents may want to keep an eye on how these developments affect the local economy and job market.
About this story
Original reporting by KSTP 5 Eyewitness News (ABC) . The Minneapolis surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSTP 5 Eyewitness News (ABC) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 13, 2026 ·
Source: KSTP 5 Eyewitness News (ABC) ·
Reading time: 4 min
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Frequently asked about this story
What is this story about? NEW YORK (AP) — Oil prices are climbing Monday following a weekend of attacks in the Middle East, while more losses for computer chipmakers and other winners of the artificial-intelligence boom weigh on stock markets.
The price for a barrel of Brent crude oil, the international standard, rose 3.9...
When was this published? This article was first published on July 13, 2026 by KSTP 5 Eyewitness News (ABC) and curated for The Minneapolis readers.
Who reported this story? This story was reported by ABC at KSTP 5 Eyewitness News (ABC). To learn more about how The Minneapolis selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The Minneapolis, or browse our daily briefing and topic hubs .
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