Oil rises on Iran tensions; CoreWeave, Nvidia recover on AI optimism

Oil prices rose Wednesday as Iran refused to allow enriched nuclear material to leave the country, reviving supply concerns, while gold fell on stronger US inflation and CoreWeave and Nvidia shares recovered on renewed AI infrastructure optimism. Brent crude climbed 0.98% to $92.39 per barrel and West Texas Intermediate gained 0.27% to $86.27, rebounding from two-month lows after Iran's refusal raised doubts about a diplomatic deal with the US. Spot gold dropped 1.15% to $3,984.39 per ounce as October US consumer prices rose 0.4%, exceeding expectations and boosting odds of a larger Fed rate hike in December. CoreWeave shares surged nearly 23% after reporting Q3 revenue of $3.66 billion, up 168% year-over-year, and raising its 2026 outlook to $13.0–$13.3 billion with a backlog of $132.5 billion. Nvidia recovered about 4% as investors bought the dip despite an ongoing board investigation into CEO Jensen Huang's reported ties to a Chinese businesswoman accused of espionage.