Oil prices fell as EU nations discussed releasing diesel and crude reserves following U.S. pressure, with Brent crude dropping 2.5% to $99.78 per barrel. France proposed releasing 50 million barrels of diesel and IEA members 50 million barrels of crude to address global supply shortages and soaring prices.
Eurozone inflation rose to 3.8% in September, its highest level since September 2023, driven primarily by energy prices at 18.8% amid Middle East tensions. The increase exceeded market forecasts and the ECB's 2% target, prompting analysts to suggest rate hikes may be necessary at the October 29 ECB meeting to prevent persistent inflation.
The U.S. is deploying a third aircraft carrier strike group and 2,000 Marines to the Middle East as President Trump signals intent to resume strikes on Iran by November. The buildup accompanies stalled indirect talks, new Treasury sanctions on Iran's sectors, and continued regional tensions involving Houthi attacks and maritime incidents in the Strait of Hormuz.
Stock futures rose modestly Friday ahead of September's jobs report, with S&P 500 futures up 0.26%. Treasury yields climbed to multiyear highs while oil prices surged over 4% following reports of a U.S. military buildup in the Middle East. Markets await nonfarm payrolls data expected to show 84,000 jobs added with unemployment steady at 4.1%.
Puerto Rico's electric rates hit a record 33.86 cents per kWh, effective Thursday, raising typical residential bills 18% to $271 monthly as outages persist following Hurricane Maria's 2017 devastation. The increase, driven by high fuel costs, summer demand, and Middle East conflicts affecting global oil prices, will remain until at least December 31 and worsen living costs for the island's 3.2 million residents, over 40% in poverty.
Keeneland's September Yearling Sale in Kentucky grossed a record $536.7 million in 2026, with 70 yearlings selling for at least $1 million each. Tax breaks from recent legislation and strong stock market gains drove demand, while Middle East buyers remained prominent despite Gulf conflict concerns.