The U.S. launched strikes on Iran early Wednesday, hours after it revoked a license authorizing the sale of Iranian oil in retaliation for what it said were Tehran’s attacks on ships in the Strait of Hormuz.

Oil futures climbed late Tuesday after the Treasury Department canceled a license granted on June 21 to allow for the sale of Iranian oil.

Oil prices extended a surge on Wednesday as the Middle East crisis burst back into the spotlight with US forces launching fresh strikes on Iran after an attack on three vessels in the Strait of Hormuz.

Oil prices rose sharply on Wednesday following renewed US attacks on Iran. A barrel (159 litres) of benchmark Brent Crude for delivery in August rose by 2.6% to $76.09 in early trading. The price of Brent had already risen by 3% on Tuesday following the attacks on tankers in the Strait of Hormuz.

Samsung Electronics on Tuesday flagged a 19-fold jump ​in second-quarter operating profit from a year earlier, surpassing its combined earnings over the past three years, but its shares slid as the results failed ‌to ease concerns about the durability of the AI-driven chip boom.

Samsung Electronics Co.’s quarterly profit surged 19-fold but failed to impress investors used to eye-catching growth from the suppliers of AI chips.

Samsung Electronics Co.’s quarterly profit surged 19-fold, just surpassing elevated expectations due to relentless demand for memory chips needed in AI data centers.

Samsung Electronics shares fell even after record preliminary second-quarter profit as capex and demand concerns clouded the outlook.

"Well, I think it certainly sends a symbolic message out there to everyone that puts them on notice in case they hadn't been noticing that Texas really is, a substantial place in this regard," said Ray Perryman,

The Texas Stock Exchange will commence trading on Monday, kickstarting the first real test of one of the most well-funded new exchanges to launch in decades.

The doors opened today on the nation's newest stock exchange. The Texas Stock Exchange out of Dallas is part of the state's push to challenge Wall Street's dominance.

The Texas Stock Exchange starts test trading as it prepares to compete with Nasdaq and the New York Stock Exchange.