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Saturday, 24 October 2026

Oil hits $116.72 on bets of new US strikes on Iran, as Israel seals off Hebron

365 stories · 12 beats · 4 signals

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Signals

Dearer fuel from the Iran war High ↑ · Day 4
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Seen in 5 of the 12 beats
  • Finance

    A barrel of oil closed at $116.72 on Friday, up 6.2% in a week and its highest close since April. Petrol and diesel in the United Arab Emirates cost more than 70% more than in March.

  • World

    October has seen more attacks on ships near the Strait of Hormuz, the Gulf's narrow sea exit, than any month on record. A US envoy said the US could strike Iran as soon as this weekend.

  • Climate

    Sales of petrol-only cars in China fell 43% in September as fuel got dearer. Belgium is adding 15 million euros to help poorer homes buy heating oil.

  • Money

    Heating oil cost 47.7% more in Jersey, a Channel island, than a year earlier. Fuel sales in Great Britain rose 2.2% in September, as drivers filled up before prices rose further.

  • Food

    With the Strait of Hormuz nearly closed, food prices in Dubai were 8.05% higher in September than a year before.

What is going on

Traders are pushing oil up on the fear of new US strikes on Iran, even though more Gulf oil is reaching buyers than before the war. Drivers and homes that heat with oil pay for it at the pump and the tank, while makers of electric cars gain as buyers in China move off petrol-only cars.

Where it is heading

The next test is the US vote on 3 November, after which traders expect US strikes on Iran to resume.

Decisions timed to the US vote Building ↑
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Seen in 4 of the 12 beats
  • Finance

    Changes to US tariffs on Canadian goods start on 30 October, four days before Americans vote. The US government says it will not strike Iran before the vote.

  • World

    The Trump administration sued to stop Alaska certifying its Senate result if the Republican loses narrowly.

  • Money

    North Carolina votes on 3 November on making lawmakers cap property tax rises. Californians vote the same day on a one-off 5% tax on billionaires' wealth.

  • Mind & body

    US health officials want their promised definition of ultraprocessed food out before the vote. It has stalled after pushback from food firms and from President Trump's own officials.

What is going on

The US government is fitting trade, war and health decisions around the vote, and the fight over how votes are counted has already reached the courts. In North Carolina, a cap on property tax would leave schools and emergency services to absorb the gap, or push up sales taxes and fees.

Where it is heading

The next test is the vote itself on 3 November.

Companies cutting staff Building ↑
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Seen in 3 of the 12 beats
  • Finance

    American Express, the card company, is cutting 5% of its staff to prepare for AI. Barclays, a British bank, said it will cut 5,000 jobs, also about 5% of its staff.

  • Gaming

    Microsoft plans to close Arkane Lyon, a French game studio with 217 jobs, unless a buyer is found. Analysts say EA closed BioWare because its buyout left it paying $1.8 billion a year in interest.

  • Tech

    China's cabinet told government agencies to give workers who lose their jobs to AI training, career advice and help finding new work.

What is going on

Banks say they are cutting staff to make room for AI, and game owners are closing studios to save money while they carry big debts. The staff pay first, with their jobs, and in China the government has told its agencies to retrain the people AI pushes out.

Where it is heading

The next test is whether Arkane Lyon finds a buyer, which French law gives until 13 November and Microsoft has stretched by a month.

France braced for cost-of-living marches Building ↑
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Seen in 2 of the 12 beats
  • World

    France is putting about 70,000 police on the streets for Saturday's protests over the cost of living. Paris shops have been boarding up their windows all week.

  • Sports

    French police stopped PSG v Lyon, a top football match, being played on Sunday, so it moves to Monday night. Toulouse v Troyes was moved too.

What is going on

The police France needs for the marches cannot also guard big football matches, so the matches give way. Fans who planned around Sunday's game pay with a new date, while Paris shops board up their windows.

Where it is heading

The next test is the size of Saturday's marches, the first day those 70,000 police are on the streets.

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