Oil climbs after missiles at a Saudi port, and US borrowing costs hit 20-year highs

The world's main oil price rose 3.4% on Thursday after a Houthi missile attack on Saudi Arabia. Diesel in the US costs $6.51 a gallon, $2.82 more than a year ago.

Many US farmers are losing money on this harvest, and diesel led the rise in their costs. Several big producing countries have proposed or set more crop-based fuel in petrol and diesel.

The US government asked refiners to hold back diesel. Republicans from farm states want diesel exports limited before the midterm elections.

Gas in Europe went above 80 euros a megawatt hour this month, the highest in three years. Coal now earns power stations more than gas, and Germany's coal plants are expected to run close to flat out this winter.

A survey showing a hot US economy set off two days of bond selling in the US, Japan and Australia. Norway's central bank raised its interest rate, and two US central bank officials said another rise may be needed.

Oracle told the builder of its New Mexico data centre that it may pay later if the site opens late. Banks that lend to AI data centres are now asking who pays when one is delayed, and bond buyers want better terms from AI companies.

Poland called a fire at a station that carries internet to Ukraine's army sabotage. Denmark's spy chief said Russia will strike NATO countries more often, perhaps with a small military attack meant to divide them.

Finland's president asked Elon Musk to switch on Starlink, his satellite internet service, over Russia. OpenAI is giving Ukraine free AI tools to find and fix weak spots in its hospitals and power networks.

New Zealand's cyber agency said China is the government that hacks it most persistently. Hacking groups with suspected links to Iran broke into 12 US water facilities this summer.

Britain's hottest summer on record cost its dairy farms about 240 million litres of milk. Fonterra, the world's biggest dairy exporter, says El Nino could slow New Zealand's milk next.

Three Pacific hurricanes have reached Category 5, the strongest kind, this year, which ties a record. Hurricane Polo was forecast to stay that strong off Mexico's coast.