Highlights for the morning: oil is cheaper, AI tigers take off, Microsoft vs. OpenAI and Amazon

Oil prices fell after Iraq agreed to resume exports through Turkey to bypass the Strait of Hormuz and U.S. crude inventories were higher than expected. Nvidia CEO Jensen Huang's stock surged on Chinese AI tigers. Microsoft is preparing for a possible lawsuit with Amazon and OpenAI over circumventing Azure exclusivity. On these and other topics - in our review of key events for the morning of March 18.

Oil prices declined: futures for Mark Brent fell by about 1.4%, but are still trading above $100 per barrel, contracts for North American WTI lost 2.8%.

Geopolitical risks were partially offset by the growth of oil reserves in the U.S.: it increased by 6.56 million barrels against expectations of 380 thousand, reports CNBC. Pressure on the market was also exerted by U.S. strikes on Iranian facilities near the Strait of Hormuz, which strengthened hopes for the restoration of shipping, the channel notes. Iraq's agreement to resume exports through Turkey bypassing the Strait of Hormuz also had an impact, Bloomberg believes.

Meanwhile, drone attacks on UAE gas and oil facilities are adding to supply concerns. According to Citi's baseline estimate, disruptions to exports through the Strait of Hormuz for four to six weeks could push Brent to $110-120 a barrel. In a pessimistic scenario, the bank estimates that a prolonged disruption or wider attacks on energy infrastructure could push prices to an average of $130 in the second and third quarters.

Shares of Chinese technology companies related to OpenClaw rose sharply after optimistic statements of Nvidia CEO Jensen Huang, who called this product "the next ChatGPT", Bloomberg writes. MiniMax shares jumped more than 21%, while Zhipu shares jumped more than 11%. These players belong to the so-called Chinese AI-tigers. Quotes of cloud providers like UCloud also soared.

OpenClaw has become a new driver of the local AI boom after DeepSeek, causing a stir among investors, the agency points out. It is an open-source AI agent capable not just of responding to requests, but of performing tasks and making decisions. Chinese tech giants are actively implementing it, but the country's authorities have already started to restrict the use of the technology in government agencies and large banks.

Microsoft is considering legal action against Amazon and OpenAI over a $50 billion deal that would likely deny Azure exclusive access to OpenAI's models, the Financial Times reports, citing sources. The dispute relates to the new Frontier product and whether AWS can provide it without circumventing the condition that all API access must go through Microsoft's cloud.

Amazon and OpenAI argue that their architecture does not breach the contract, while Microsoft sees it as an attempt to circumvent it "in spirit" if not "in letter". The conflict reflects a growing rift between the partners, with OpenAI seeking to diversify its cloud capacity and Microsoft seeking to protect Azure's key source of revenue and its influence over the AI ecosystem, the FT points out.

Donald Trump's administration said in court that the Pentagon's decision to blacklist Anthropic was legal and related to national security issues, Reuters writes. The company came under restrictions after it did not allow its models to be used in autonomous weapons and surveillance systems. According to the White House version, this is not "free speech" but commercial behavior.

Anthropic is challenging the blacklisting in court, claiming it violates its rights, and is trying to get it suspended. The ban could cost the company billions of dollars and affect its reputation, increasing tensions between AI developers and the government over the military use of the technology, the agency said.

Alibaba has raised prices for AI computing and data storage - in some cases by as much as 34% - amid a surge in demand and rising infrastructure costs, Bloomberg writes. T-Head chips and the Cloud Parallel File Storage service are also going up in price, reflecting a growing capacity shortage in the AI segment, the agency points out.

The decision follows a business restructuring with a focus on AI monetization. The company is actively launching new products, including the Wukong agent platform, to capitalize on the AI boom in China.

- Japan's broad Topix index jumped 2.5 percent, while the Nikkei 225 was up 2.9 percent.

- Hong Kong's Hang Seng Index rose 0.8 percent, while mainland China's CSI 300 index was little changed.

- In South Korea, the Kospi index added 5%, while the Kosdaq added just over 2%.

- Australia's S&P/ASX 200 was up 0.3 percent.

- Futures on the S&P 500 and Dow Jones Industrial Average were up 0.5%, while Nasdaq Composite exchange-traded contracts were up 0.7%.

This article was AI-translated and verified by a human editor