The Iran Conflict Briefly Sent Oil Past $115. Here's 1 Way It's Quietly Reshaping the AI Trade.

By Ryan Vanzo – Mar 12, 2026 at 8:30PM ESTKey PointsFossil fuel pricing is rising and volatile.Certain growth stocks should benefit from the shift.Oil prices surged last week as geopolitical tensions in Iran and the surrounding regions continued to flare. In recent trading days, oil prices have reverted sharply, sliding from a temporary high of $115 per barrel on March 9 to around $80 per barrel today. Still, oil prices remain roughly 40% higher since the year began. What do volatile, rising oil prices have to do with artificial intelligence (AI) stocks? There's a sneaky angle tech investors should be aware of. Many AI data centers still rely on fossil fuels It's not just oil prices that are going up. Natural gas prices are also up more than 16% since the year began. That's a challenge when you consider that fossil fuels still supply data centers with around 60% of their power need per data from the International Energy Agency (IEA). Renewables supply around 27% of the required electricity, with nuclear contributing 15%. Image source: Getty Images. With fossil fuel prices on the rise -- or at least demonstrating high levels of volatility -- the global data center build-out to support the AI industry's rapidly growing compute needs now faces an additional hurdle. This is likely good news for companies like Oklo (OKLO 5.05%) and NuScale Power (SMR 5.01%), which are developing smaller, modular nuclear reactors that can help data centers relieve themselves of this price uncertainty. Oklo's business strategy is specifically geared toward supplying AI-focused data centers with reliable base load power that is largely sheltered from swings in fossil fuel prices. ExpandNYSE: OKLOOkloToday's Change(-5.05%) $-3.17Current Price$59.59Key Data PointsMarket Cap$9.8BDay's Range$59.51 - $63.2052wk Range$17.42 - $193.84Volume7.2MAvg Vol10M It's just another piece of the puzzle that could impact the scale and pace of the global data center build-out. But rising energy prices should put a greater spotlight on companies looking to supply this build-out with a clean, reliable, power supply with stable pricing.Read NextNov 19, 2025 •By Rick OrfordPrediction: Oklo Stock Could Soar 60% by 2026Oct 25, 2025 •By Rick OrfordOklo Investors Need to Know This Before 2026Oct 22, 2025 •By Rick OrfordIs It Too Late to Buy Oklo Stock After Its 1,400% Run?Oct 15, 2025 •By Rick OrfordOklo Stock: Can This Energy Innovator Keep Its 1,100% Run Going?Oct 3, 2025 •By Rick OrfordOklo Investors Need to Know This Before 2026Sep 8, 2025 •By Rick OrfordOklo Stock Is Soaring and This Could Be Just the BeginningAbout the AuthorRyan Vanzo is a contributing Motley Fool stock market analyst, covering a range of stocks and market sectors. Ryan previously worked for multiple mutual funds conducting fundamental research. He holds a degree in finance and accounting from Bentley University and has had a strong interest in financial markets since childhood.TMFRyanVanzoStocks MentionedOkloNYSE: OKLO$59.59(-5.05%)-$3.17NuScale PowerNYSE: SMR$11.76(-5.01%)-$0.62*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.