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CNBC Daily Open: Middle East tensions send oil higher while Iran-U.S. tensions escalate

* Oil prices rise on Middle East attacks and Iran tensions. * Japan's July producer prices miss forecasts; Kospi enters bull market. * Chinese chip firm tops Micron and Kioxia in NAND shipments. Oil prices climbed after deadly attacks on vessels in the Gulf of Oman and Red Sea, plus an expanding spill near Oman, heightening supply concerns. Iran's claims of a closed Strait of Hormuz clash with Trump's assertions of U.S. control, while Saudi Arabia reroutes exports via a Mediterranean pipeline to avoid Houthi attacks. In Asia, Japan's producer-price growth eased to 7.2% YoY, missing forecasts. South Korea's Kospi entered a technical bull market, buoyed by a global AI rebound and strong memory-chip names. Yangtze Memory Technologies overtook Micron and Kioxia in NAND shipments, according to Counterpoint data. Separately, lettuce prices plunged a record 16.4% in July after a cyclospora outbreak drove consumers away.
August 13, 2026 at 2:28 AMMU
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