Middle East Tensions Escalate, Oil Prices Surge; Spain Wins World Cup, UK Sees PM Change

The World Cup final was a big thing. Here in Singapore, many watched in the wee hours of the morning as Spain dominated Argentina, before breaking the deadlock in extra time.

In the Middle East, the U.S. continues to strike Iranian targets, sending oil prices surging. But the cost also seems to be mounting for Washington, with three U.S. military personnel killed over the past few days.

Spain has won the football world Cup, defeating Argentina. La Roja took home their first World Cup since 2010 in a 1-0 victory over 10-man Argentina.

Both sides went goalless at the end of regulation time, before Argentine midfielder Enzo Fernandez got sent off in the 93rd minute.

Spainard Ferran Torres then lashed it into the back of the net deep in extra time, sealing the victory for the European side.

Along with the coveted trophy, Spain gets $51 million in prize money, while second place Argentina will receive $34 million.

Moving from the World Cup frenzy to more pressing matters: The U.S. continued hitting Iran for a ninth consecutive night, the U.S. Central Command said, raising worries of an extended conflict in the Middle East.

Iranian strikes have claimed the lives of three U.S. service members over the past few days, bringing the death toll to 17 for U.S. forces.

U.S. Central Command said Sunday American forces "found unidentified remains at the location" of the Jordan strikes that killed two service members on July 17, and they are working to identify them.

A third service member was killed in Iraq on Saturday "during a controlled detonation of unexploded ordnance from a downed Iranian one-way attack drone."

Iranian Supreme Leader Ayatollah Mojtaba Khamenei said that the country has "unforgettable lessons in store" for the U.S, while the country's Deputy Foreign Minister Kazem Gharibabadi said Iran had suspended its commitments to the memorandum of understanding signed last month with the U.S.

The developments have pushed oil prices up, with international benchmark Brent crossing $90 per barrel mark for the first time since June 11. U.S. West Texas Intermediate futures have also surged to their highest level in over a month, trading at $84.68 a barrel.

All these also mark an escalation in uncertainty in the critical Strait of Hormuz. Dimitris Maniatis, CEO of maritime risk services firm Marisks told CNBC the security situation in the Strait has returned to a "worst-case scenario" for oil tankers as Iran has repeatedly attacked ships last week.

UK Labour Party leader Andy Burnham will take charge from Keir Starmer, becoming the UK's seventh prime minister in a decade.

Starmer had resigned from the post in June after Labour suffered heavy losses in local elections in May, and he faced an increasingly vocal rebellion from his own lawmakers over his leadership and policy agenda.

TSMC is accelerating Arizona factory buildout to capitalize on AI ‘megatrend,’ CFO says

TSMC is racing to accelerate capacity at its Arizona factory as the company continues to see a "multi-year demand mega trend" from its customers, Chief Financial Officer Wendell Huang told CNBC.

TSMC, or Taiwan Semiconductor Manufacturing Co., is scaling up its mega investment in Arizona by committing an additional $100 billion to aggressively expand its U.S. chipmaking footprint amid a surging multi-year structural demand for AI.