ASX 200 energy shares rose 2.39% last week, bucking a 2.94% drop in the broader market to a 10-week low. Brent and WTI crude both jumped 12%, topping US$108 and US$103, while UK, German and broader European gas prices also climbed sharply. Concerns that shipping through the Strait of Hormuz could be disrupted — affecting about 20% of global oil and gas transport — helped fuel the surge in energy prices.

OpenAI CEO Sam Altman said the company will not go public in 2026, citing AI safety considerations. The decision comes as calls for tighter AI regulation intensify and experts warn about potential risks from the technology. Altman framed the move as part of a strategy to align safety measures with government-industry cooperation.

Average diesel prices in Virginia have moved above $6 a gallon, while average regular unleaded gasoline has risen past $4.12 a gallon. The increase has been driven by higher crude oil prices as tensions between the United States and Iran over shipping through the Strait of Hormuz escalate. Inflation has also inched up on higher energy and housing costs, and markets are expecting the Federal Reserve to raise interest rates.

OpenAI CEO Sam Altman said the company will not go public in 2026, arguing that an IPO would be poorly timed and that safety and compliance work must take priority. Markets had previously speculated that OpenAI could be valued at $1 trillion in a listing. He made the comments as global markets remain volatile, after the SpaceX IPO’s sharp post-listing swings and as renewed fighting involving Iran has pushed oil prices higher and lifted inflation forecasts.

Ethereum (ETH) climbed even as markets fretted about potential rate hikes, reaching its highest level since January. The move points to strong demand for ETH. It also suggests ETH’s price action has been less tied to expectations of tighter interest-rate policy, alongside a notable rebound in investor confidence.

Anthropic CEO Dario Amodei has publicly called for slowing the pace of frontier AI capability gains ahead of the company’s IPO, arguing that risk prevention should take priority over unchecked progress. He said he believes the chance of a catastrophic AI event within the next decade is greater than 10%, and warned that swarms of AI agents could take control of the internet within the next 6 to 12 months. Anthropic is expected to go public next month, targeting a valuation of up to $2 trillion.

Dynagas LNG Partners reported second-quarter 2026 net income of $16 million, up 16.8% year on year, and adjusted EBITDA of $27.6 million. Voyage revenue rose 6.7% to $41.2 million, supported by higher rates and the start of the Clean Energy vessel’s new time charter. Average daily hire increased to about $71,810 per vessel, while fleet utilization was 96.2%. The partnership also said it had an estimated contracted revenue backlog of approximately $730 million.

Dell Technologies reported results for the quarter ended July 31, 2026, with revenue of $47 billion, up 58% year over year, and non-GAAP EPS of $7.04, up 203%. Infrastructure Solutions Group revenue totaled $31.8 billion, including $16.4 billion from AI-optimized servers, while quarterly AI server orders reached a record $60.9 billion, taking total AI backlog to $95 billion. Management raised its fiscal 2027 revenue outlook to about $192 billion. Wall Street analysts subsequently set fresh 12-month price targets in a range of $500 to $735.