Morning Edition · Saturday, October 24, 2026
Markets
Brent Nears $117 as Washington Lends Crude From a Strategic Reserve at Its Lowest Level Since 1982
The Energy Department released up to 400,000 barrels to a Louisiana refinery on the same day President Trump said the United States "may do another little Epic Fury" against Iran, and US crude closed above $100.
Geopolitics
Washington Reduces Staff at Gulf Embassies as Trump Threatens "Another Little Epic Fury" Against Iran
The Atlantic reports the White House is weighing multi-day strikes after the November 3 midterms, and an Iranian security official says Gulf oil sites, undersea cables and data centers would be targets.
Markets
Dow Falls 653 Points as Doubts About Artificial-Intelligence Spending Spread Beyond Tech Stocks
American Express said it will cut 5% of its workforce to "prepare for AI," and a fund manager said Anthropic may decide to stay private rather than file in time for a November listing.
Macro
Japan's Core Inflation Rises to 2.1%, Above the Bank of Japan's Target for the First Time in Nine Months
The central bank holds its policy rate at 1.25% before its October 29-30 meeting, and its new Financial System Report treats a fall in expected returns on artificial-intelligence investment as a stress scenario for Japanese lenders.
Macro
Brazil Votes Sunday With Lula and Flávio Bolsonaro Tied at 50% in the Final Datafolha Poll
The real closed below 5 per dollar for the first time since October 12 as markets leaned toward the challenger, and both candidates promised household debt relief in the last debate.
Macro
France Deploys 70,000 Police for Saturday Protests as Its 10-Year Borrowing Cost Reaches 5%
The government put about 20% more officers on the streets after last weekend's riots, while Prime Minister Sébastien Lecornu seeks €54 billion in savings in the 2027 budget.
Markets
US Waiver Lets Russian Diesel Back Onto World Markets as Former Executives Say Novatek Secretly Ran an Alaska Gas Project
Treasury's General License 135 runs until April 7, 2027, and the former chief executive of Polar Train LNG says Russia's Novatek financed and directed the $25 billion venture without Washington's approval.
Crypto
Gold Holds Near $4,030 and Bitcoin Near $81,000 as Oil Jumps 3%, While Silver Falls 1%
The gold-to-silver ratio widened past 74 on fears that rates will rise, and Franklin Templeton nearly quadrupled its tokenized fund shares on the XRP Ledger, all in one wallet whose signers it shares.
Geopolitics
Drone Strike on the Taman Substation Cuts Power Across Crimea and Parts of Rostov
Sevastopol's Russian-installed governor said the city lost power temporarily, and Rostov's governor reported more than 80 drones downed overnight and 21 buses damaged.
Geopolitics
Rubio Calls the Ukraine War a Dispute Over "One Region" Before November's Three-Way Talks
President Volodymyr Zelensky answered a US envoy's praise of Vladimir Putin as "a humanitarian" with a jibe, and Russian state media name Finland's Alexander Stubb as Europe's likeliest channel to Moscow.
Geopolitics
Burnham Presses Trump Over Argentina's Measures Against the Falklands Sea Lion Oil Project
The call came a day after a senior US diplomat said in Buenos Aires that Washington is watching a bill that would sanction the suppliers and financiers of companies working in the islands.
Geopolitics
Rubio Urges Cubans to Partner With US Intelligence After Trump Says Warships Could Stop Off Cuba
Havana replied that Washington "does not renounce its ambitions of domination," and the Central Intelligence Agency posted Spanish-language guidance for people who want to contact it.