Crude oil prices jumped by more than 1% on Tuesday after the American oil company Chevron Corp. announced that it is partnering with the investment firm Engine No. 1 to strengthen the United States' AI capabilities using energy investments. The increase in prices came after declining yesterday amid the Chinese AI startup DeepSeek, causing the US markets to plunge when the stocks of major tech companies, such as Nvidia and ASML, plummeted.
West Texas Intermediate (WTI) for March deliveries increased by 1.38% to $74.12 a barrel at 8:31 am ET. Brent for the same month's settlements climbed by 1.22% to trade at $78.04 a barrel at 8:35 am ET.