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Twice this year, US forces in the region have assisted Israel in intercepting an attack by Iran. Austin announced in early August that he was sending the USS Abraham Lincoln Carrier Strike Group to the region; it arrived later that month. The strike group consists of thousands of sailors and Marines, spanning across three destroyers and a carrier air wing. The USS Spruance and USS Frank E. Petersen Jr., also both guided-missile destroyers that are part of the strike group, were operating in the Red Sea. In addition to the firepower brought by the Lincoln strike group, the Navy has a number of other destroyers and capabilities in the region.

Persons: Israel, Lloyd Austin, Austin, Abraham Lincoln, Spruance, Frank E, Petersen, Bulkeley, Arleigh Burke –, Murphy, Stockdale, Sabrina Singh Organizations: Washington CNN, Israel, Navy, Iranian, Defense, Abraham Lincoln Carrier Strike Group, Lincoln, 24th Marine Expeditionary Unit, Marines, USS, Air Force, Pentagon, US Central Command, Army, Patriot, High Mobility Artillery Rocket Systems Locations: East, Israel, Iran, Iraq, Syria, Iranian, Gulf of Oman, Red, York, Lebanon, Cole, Indianapolis

☆ The port strike is over. Here’s what happens next
▼ + stars: | 2024-10-04 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

Then union members will get additional $4-per-hour raises every year during the life of the six-year tentative deal. The union had been willing to consider the $4-an-hour deal before the strike, union boss Harold Daggett said on the picket line outside the Port of New York and New Jersey early Tuesday, soon after the start of the strike. Thursday’s deal likely is the end of the strike, but it doesn’t close the door on a new strike in the future. Should the members vote against the deal, the strike might start once again. But union members voted nearly unanimously to reject it and have remained on strike since September 13.

Persons: Harold Daggett, Bryan R, Smith, Helene, Bethann Rooney, ”, Rooney Organizations: New, New York CNN, United, International Longshoremen’s Association, United States Maritime Alliance, Getty, Port Authority of New, Hurricane Sandy, International Association of Machinists, Boeing Locations: New York, United States, East, Gulf Coast, Port of New York, New Jersey, Maine, Texas, Virginia, Port Newark, AFP, Port Authority of New York, Port, NY, NJ, Hurricane

☆ CNBC Daily Open: Stocks can’t defy October’s gravity
▼ + stars: | 2024-10-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] How to play the jobs report The U.S. jobs report for September, coming out later today, will indicate if the economy will be able to achieve a soft landing or is headed toward a recession. Analysts at JPMorgan break down how the S&P 500 could react , depending on the number of jobs added for September. With the jobs report out in about 12 hours, it's too late for second guessing, in any case.

Persons: AI's, Nvidia's, Blackwell, Jensen Huang, Dow Jones, David Kelly, Kelly, it's, –, Jeff Cox, Alex Harring, Pia Singh Organizations: New York Stock Exchange, CNBC, JPMorgan, Nvidia, Port, U.S, International Longshoremen's Association, United States Maritime Alliance, Dow Jones Industrial, Nasdaq, Dow, U.S . Federal Reserve, Asset Management Locations: New York City, U.S, East, Gulf Coast

☆ Goldman Sachs says crude could spike by $20 on Iran oil shock
▼ + stars: | 2024-10-04 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

The oil tanker 'Devon' prepares to transfer crude oil from Kharg Island oil terminal to India in the Persian Gulf, Iran, on March 23, 2018. Oil prices could shoot up $20 per barrel if Iranian production sees a hit resulting from Israeli retaliation, according to Goldman Sachs. U.S. crude oil prices just saw a third consecutive session of gains after Iran launched a ballistic missile attack on Israel, heightening tensions in the region. If Israel hits Iran's oil industry, supply disruptions in the Strait of Hormuz could become of concern, other analysts echoed. This strategically significant waterway connects crude oil producers in the Middle East with major global markets.

Persons: Struyven, Daan Struyven, Goldman Sachs, CNBC's, Saul Kavonic, Joe Biden, Brent Organizations: U.S . Energy Information Administration, Oil, CNBC, White, bbl, USD150, Fitch Solutions, BMI Locations: Devon, India, Persian Gulf, Iran, Saudi Arabia, UAE, Israel, U.S, China, Hormuz, Strait, Oman, OPEC

☆ Why oil prices haven't skyrocketed on Middle East supply fears — yet
▼ + stars: | 2024-10-04 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Iran, which is a member of OPEC, is a major player in the global oil market. It's estimated that as much as 4% of global supply could be at risk if Israel targets Iran's oil facilities. For some analysts, the reason crude prices have yet to move even higher is because the oil market is short. watch nowTamas Varga, an analyst at oil broker PVM, told CNBC via email on Thursday that the oil market was pricing in some risk premium given the geopolitical concerns. These fears, however, will be greatly alleviated in [the] coming days unless oil supply from the region or traffic through the Strait of Hormuz are materially impacted," he added.

Persons: Fatemeh, Goldman Sachs, SEB, Jeff Currie, Carlyle, CNBC's, it's, Currie, we've, Amrita Sen, We've, Sen, Joe Biden, Biden, Tamas Varga, " Varga, Benjamin Netanyahu, Masoud Pezeshkian Organizations: Anadolu, Getty, Energy, OPEC, Brent, U.S, West Texas, CNBC, White House, Islamic Revolutionary Guard Corps, Persian, Nurphoto Locations: Isfahan Refinery, Iran, Isfahan, Israel, Swedish, backwardation, bearishness, U.S, Hormuz, Oman, Tehran, Qatar, Persian, Bushehr, Bushehr province

☆ Helene’s survivors shoulder catastrophic loss and destruction after storm leaves at least 213 dead
▼ + stars: | 2024-10-04 | by ( Elizabeth Wolfe | ) edition.cnn.com time to read: +10 min

Community volunteers carry gas at a relief area and community coordination center in Bills Creek, North Carolina, on Thursday. Melissa Sue Gerrits/Getty ImagesMen remove items from a fine arts business in Marshall, North Carolina, on Thursday. Melissa Sue Gerrits/Getty ImagesA volunteer helps clean out a flooded crawlspace under a home impacted by Hurricane Helene in Cruso, North Carolina, on Thursday. In North Carolina, guard members have been dropping in supplies from the air and airlifting people and pets to safety. President Joe Biden visits an area affected by Hurricane Helene in Keaton Beach, Florida, on Thursday.

Persons: Helene, Joe Dancy, CNN’s Laura Coates, ” Helene, Allison Joyce, Polly Trottenberg, Frank Matranga, ” Matranga, Melissa Sue Gerrits, Hurricane Helene, Jonathan Drake, Helene ., Jaclyn Rothenberg, we’re, Alejandro Mayorkas, Matranga, Joe Biden, ” Biden, Mandel Ngan, Joe Biden's, Tom Brenner, Eddie Hunnell, Hunnell, Phil Worth, Leslie, couldn’t, Phil, “, ” Hunnell, ”, Leslie Worth, “ Leslie, “ I‘d, CNN Hunnell, CNN’s Kayla Tausche, Sam Fossum, Haley Talbot, Sara Smart, Emma Tucker, Andy Rose, Steve Almasy Organizations: CNN, Hurricane, Community, Getty, US Transportation Department, Reuters Cell, National Guard, FEMA, Homeland, Reuters Local, Small, Republicans, SBA Locations: Virginia, Carolina’s Buncombe County, Asheville, tatters, Swannanoa , North Carolina, United States, North Carolina, South Carolina, Georgia, Florida, Tennessee, Bills, , North Carolina, AFP, Marshall , North Carolina, Cruso , North Carolina, Hurricane, Keaton Beach , Florida, Grassy Creek , North Carolina, Worth

☆ From missile batteries to oil refineries to nuclear labs, Israel could hit a wide range of targets in Iran
▼ + stars: | 2024-10-03 | by ( Dan De Luce | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +7 min

If Israel decides to go that route, it remains an open question what parts of Iran’s oil sector Israel would try to attack. An attack on Iran’s oil industry could drive up oil prices and jolt the global economy. NuclearBiden said this week that the U.S. opposed any strikes on Iran’s nuclear program. Iran denies it has ever sought to build nuclear weapons and says its nuclear program is designed for civilian purposes. A 2015 nuclear agreement between Iran and world powers limited Iran’s nuclear project in return for an easing of economic sanctions.

Persons: Israel, Iran’s, ”, Monica Alba, Joe Biden, “, ” Biden, Fatemeh Bahrami, Nuclear Biden, Benjamin Netanyahu, Donald Trump Organizations: U.S, Energy, NBC News, Persian Gulf, Nuclear, Getty, of Atomic Scientists Locations: Iran, Tehran, Israel, Strait, Hormuz, Persian, U.S, Persian Gulf Star, Bandar Abbas, Fordow, Isfahan, Khondab, Iranian

The National Hurricane Center is monitoring two more tropical cyclones growing stronger in the Atlantic on Thursday. Hurricane Kirk and Tropical Storm Leslie currently pose no direct threat to land, but threaten to bring more rain to regions already reeling in the aftermath of Hurricane Helene. The NHC classifies this system as a major hurricane, with maximum sustained winds of 125 miles per hour and a minimum central pressure of 948 millibars. It’s currently located 515 miles southwest of the southernmost Cape Verde Islands, but there are no hazards affecting land at this time. Heavy rainfall from this system is not currently expected to affect parts of North Carolina, South Carolina and Georgia that were hard-hit by Helene.

Persons: Hurricane Kirk, Tropical Storm Leslie, Hurricane Helene, Kirk, Leslie, millibars, Helene Organizations: National Hurricane Center, Tropical, NHC, Northern, Greater Locations: Hurricane, It’s, Northern Leeward, Leeward Islands, Bermuda, U.S, East, Cape Verde Islands, Gulf of Mexico, Gulf Coast, Florida, North Carolina, South Carolina, Georgia

☆ Ship queue grows at U.S. ports as dockworker strike enters third day
▼ + stars: | 2024-10-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

One alternative would be to sail to West Coast ports on the other side of the country, likely using the Panama Canal, a journey of thousands of miles that would hike costs and add weeks to delivery times. Bryan R. Smith / AFP - Getty Images fileThe ILA is seeking a big pay raise along with commitments to halt port automation projects it fears will kill jobs. The USMX had offered a 50% pay bump, but the ILA said it was insufficient to address its concerns. The strike affects 36 ports — including New York, Baltimore and Houston — that handle a range of containerized goods. Biden’s administration has repeatedly said it will not use federal powers to halt the strike.

Persons: ”, Everstream’s Jena Santoro, Bryan R, Smith, USMX, ” USMX, “, Joe Biden’s, Morgan Stanley Organizations: International Longshoremen’s Association, Reuters, ILA, United States Maritime Alliance, Getty, Houston, National Retail Federation Locations: U.S, East Coast, Gulf Coast, West Coast, Panama, Maine, Texas, Bayonne , New Jersey, AFP, New York, Baltimore

☆ A trifecta of global crises could snarl supply chains and increase prices
▼ + stars: | 2024-10-03 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

The dockworkers' strike threatens supply chains, while Hurricane Helene caused costly damage. Devastation from Hurricane Helene, a dockworkers' strike, and escalating conflict in the Middle East all threaten to scramble supply chains and inflate prices. How much the strike impacts prices depends on how much of a cushion companies have built to deal with any bottlenecks. Bottlenecks also encourage carriers to raise their prices, increasing retail and consumer goods prices, Kent said. The hurricane has also disrupted some supply chains, including healthcare supplies and high-purity quartz needed for semiconductor manufacturing.

Persons: Helene, —, Israel ramped, Douglas Kent, Dockworkers, dockworkers, Morgan Stanley, Kent, Fazili, Lauren Saidel, Baker, she's, Biden, Hurricane Helene, Adam Kamins Organizations: Service, Association for Supply Chain Management, JPMorgan, National Economic, Biden, ITR, International Longshoremen's Association —, United States Maritime Alliance, Homeowners Locations: Israel, Iran, Hurricane, Lebanon, Maine, Texas, East Coast, Gulf, Kent, West Coast, North Carolina, Florida

☆ From Walmart and Ikea to Heineken, here are the companies whose imports may be most impacted by the port strike
▼ + stars: | 2024-10-03 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

The port workers' strike could disrupt business for big retailers, according to ImportGenius data. Walmart, Ikea and Samsung are some of the biggest importers at ports affected, the data show. JPMorgan predicted the strike could cost the US up to $5 billion daily. AdvertisementMajor retailers are pivoting their shipping plans and preparing for the financial impact of the ongoing port strike. The chart doesn't include data from shipping companies that handle cargo from multiple businesses or anonymous shipments.

Persons: —, Alan Murphy, William George, General Motors, Jess Dankert, Dankert Organizations: Walmart, Ikea, Samsung, JPMorgan, Service, Intelligence, CNBC, Research, Arbor Research, Lading, Customs, Business, General, Home, Retail Industry, Association, International Longshoremen's Locations: Gulf Coast, ImportGenius, West, Maine, Texas

☆ Port strike ends as workers agree to tentative deal on wages and contract extension
▼ + stars: | 2024-10-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

A major union for U.S. dockworkers and the United States Maritime Alliance have agreed to a tentative deal on wages and have extended their existing contract through Jan. 15 to provide time to negotiate a new contract. The move ends a strike that had snarled East Coast and Gulf Coast ports since the beginning of the week and threatened U.S. supply of fruits, automobiles, and other goods. During the week, the strike had already started to stress the U.S. supply chain. The strike was the first by the ILA since 1977, and it impacted operations at 14 different ports. About 50,000 of the union's 85,000 members were on strike this week.

Persons: Harold Daggett Organizations: U.S, dockworkers, United States Maritime Alliance, Longshoremen's Association, Ltd, CNBC, Shipping, ILA Locations: East Coast, Gulf Coast, U.S

☆ Meet Harold Daggett, the colorful and controversial union boss leading the port strike
▼ + stars: | 2024-10-03 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +7 min

Daggett is the president of the International Longshoremen’s Association, which has nearly 50,000 union members on strike at three dozen different port facilities. This is the union’s first strike in 47 years, but Daggett participated in the previous strike as a rank-and-file dock worker. A sea of hundreds of union members parted amid cheers as made his way to the top of a small grassy knoll, with idle shipping containers as a backdrop. Unwanted attentionBut increasing attention on Daggett and the strike has brought harassment and death threats, according to a statement from the union. Members of the International Longshoremen's Association union, which represents roughly 45,000 workers, on strike outside the Port of New York and New Jersey on the first day of the strike.

Persons: Harold Daggett, Daggett, ”, Bryan R, Smith, “ We’re, Dennis Daggett, ” Daggett, Shawn Fain, don’t, Donald Trump, Trump, Kamala Harris, Joe Biden, Biden, Julie Su, John McCown, Shannon Stapleton Organizations: New, New York CNN, International Longshoremen’s Association, Navy, Sporting, International Longshoremen's Association, Port, Gulf Coasts, Getty, ILA, United Auto Workers, UAW, Queens, Trump, Mar, Lago, Democratic, Labor Locations: New York, East, Gulf Coasts, That’s, United States, Vietnam, Europe, Port of New York, New Jersey, Gulf, AFP, Elizabeth , New Jersey, New York City, ”, OpenSecrets

☆ Chaos is building for shippers as U.S. port strike continues and costs rise
▼ + stars: | 2024-10-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

Brashier said some clients had containers that were once destined for the Port of Savannah diverted to the Port of Norfolk in the last hours before the strike began. More than a dozen container vessels are currently waiting in the port anchorage area of Freeport, Everstream Analytics data shows. MSC, the largest containership company in the world, has diverted two vessels, according to Vizion. A container ship departs the Port of Newark for the Atlantic Ocean on September 30, 2024 seen from New York City. Christian Roeloffs, cofounder and CEO of Container xChange, said the timing of this strike is especially challenging for shippers.

Persons: Eric Adams, Spencer Platt, Biden, Paul Brashier, Brashier, Jose Luis Gonzalez, Mirko Woitzik, Lloyd, Hermann Schulte, Port, Harold Daggett, Daggett, Stew Leonard, Jr, Stew Leonard's, Leonard, Brandon Daniels, Daniels, Christian Roeloffs Organizations: International Longshoremen’s Association, ILA, Getty, International Longshoremen's Association, United States Maritime Alliance, ITS Logistics, CNBC, Trucking, Port, Portsmouth, Reuters, Dresden, Turkey East Coast Express Service, America, Schulte Group, MSC, USMX, Local, Virginia International, Walmart, Depot, Folgers Company, Nike, Container, Analytics Locations: Brooklyn, Brooklyn , New York, Gulf Coast, Savannah, Port of Norfolk, Virginia, Portsmouth , Virginia, U.S, Vizion, East Coast, Port of Norfolk , Virginia, Savannah , Georgia, Egypt, America, Charleston, Port, Freeport, Bahamas, Cristobal, Port of New York, New Jersey, Halifax, Canada, Newark, New York City, New York, Savannah , Norfolk, West Coast, demurrage, China, Israel

☆ There's already a queue of cargo ships backing up at US ports
▼ + stars: | 2024-10-03 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

AdvertisementCargo vessels (green dots) and tankers (red dots) at anchor outside Eastern US ports. AdvertisementCargo vessels (green dots) and tankers (red dots) along the Mid-Atlantic. Cargo vessels (green dots) and tankers (red dots) along the Gulf Coast. Cargo vessels (green dots) and tankers (red dots) outside Savannah, Georgia, and Charleston, South Carolina. Cargo vessels (green dots) and tankers (red dots) outside Norfolk, Virginia.

Persons: —, Andrew Coggins, Coggins, MarineTraffic.com Burt Flickinger, MarineTraffic.com, Brandon Daniels, Daniels, Taft, Hartley, Hurricane Helene Organizations: Industry, Service, International Longshoreman's Association, Reuters, Pace University, MarineTraffic.com, Strategic Resource, ILA, US Marine Alliance Locations: East, Gulf Coast, New York, Virginia Beach, Savannah, Miami , New Orleans, Houston, Gulf, Western, Savannah , Georgia, Charleston , South Carolina, Norfolk , Virginia, Hurricane

☆ Supply chain disruptions could benefit these stocks, Goldman Sachs says
▼ + stars: | 2024-10-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Trade tensions, too, have resulted in tariffs and affected world trade in certain goods. The market for companies in this space is driven by the volume of global trade, and this so-called supply chain "complexity," Goldman noted. It sees some stocks as being able to benefit from higher supply chain "complexity." Freight-forwarding firms such as DSV , DHL Forwarding and Kuehne+Nagel are "well-placed to help their clients navigate higher complexity and shocks," Goldman said. Container lines such as Cosco, Maersk and Hapag-Lloyd are less directly exposed to the higher supply chain complexity, said Goldman.

Persons: Goldman Sachs, Goldman, deglobalization, Nagel, Lloyd, — CNBC's Michael Bloom Organizations: U.S ., Logistics & Shipping, Logistics, DHL, Goldman, Express, Fedex, UPS, Maersk, Hapag Locations: U.S . East Coast, Gulf Coast

☆ Friday’s jobs report could be the last normal one for a while
▼ + stars: | 2024-10-03 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

CNN —September’s jobs report, due out Friday morning, is expected to show that the US labor market has slowed somewhat but remains on solid footing. While September’s employment data is expected to stay relatively tame, the same can’t be said for the October jobs report, which is set to be released on November 1, just days before the presidential election. The strikes and hurricane-related effects “are not going to permanently alter the trajectory of the labor market; but September is probably our last clean reading on the labor market for a while,” Ryan Sweet, chief US economist at Oxford Economics, told CNN earlier this week. The August jobs report, which showed better-than-expected estimated 142,000 payroll gains and a drop in the unemployment rate, went a long way to quell those fears. It showed that the jobs market is in “stasis,” Wells Fargo economists wrote in a note issued Tuesday.

Persons: bode, Lydia Boussour, ” Ryan Sweet, Helene, ”, Erica Groshen, They’ve, “, Andrew Challenger, Wells, Noah Yosif, ’ Sweet, Ejindu Ume, “ We’re, ” Ume Organizations: CNN, Federal Reserve, Boeing, Gulf Coasts, Oxford Economics, of Labor Statistics, Cornell University School of Industrial and Labor Relations, Employers, Challenger, Labor Department, Pantheon, Labor, BLS, “, American Staffing Association, Oxford, Miami University in Locations: EY, Hurricane, East, Gulf, Miami University in Ohio

☆ JPMorgan just raised its price target for Tesla — but it still expects a 48% crash in the stock
▼ + stars: | 2024-10-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

JPMorgan sees the stock drifting even lower, by as much as 48% to its $130 price target. AdvertisementJPMorgan raised its price target for Tesla stock — but the bank still sees shares of Elon Musk's electric carmaker falling almost 50% in the coming year. Tesla stock is down 7% since it reported third-quarter vehicle deliveries on Wednesday, but JPMorgan thinks it can go much lower. In a Thursday note, the bank set its December 2025 Tesla stock price target to $130, representing potential downside of 48% from Wednesday's close. AdvertisementJonas has a $310 price target for Tesla stock, more than double Brinkman's $130 target.

Persons: Tesla, —, Ryan Brinkman, Brinkman, Dan Ives, Elon Musk, that's, Adam Jonas, Morgan Stanley, Jonas Organizations: JPMorgan, Service, Elon, Wall, Toyota Locations: Wednesday's

☆ Dockworkers on the East and Gulf Coasts have agreed to suspend the strike after reaching a deal for better pay
▼ + stars: | 2024-10-03 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

The International Longshoremen's Association and the United States Maritime Alliance reached a deal. Port employers and striking dockworkers reached a tentative agreement on wages, according to a joint statement. The strike will be suspended until January to allow time to work out the specifics of a new contract. The 62% increase would up the hourly rate for port workers from $39 to $63 in the coming years, according to the outlet. AdvertisementThe three-day strike shuttered ports across the East and Gulf Coast, disrupting the supply chain and impacting consumer items like fruits and car parts.

Persons: dockworkers, — Organizations: Longshoremen's Association, United States Maritime Alliance, Service, CNN, Associated Press, Street Journal, White, The, CBS News, International Longshoremen's Association Locations: Maine, Texas, West, East, Gulf

☆ A trio of crises threatens to upend the race 5 weeks before Election Day
▼ + stars: | 2024-10-03 | by ( Alice Tecotzky | Erin Snodgrass | ) www.businessinsider.com time to read: +10 min

A trio of emergencies has all struck just five weeks ahead of the 2024 presidential election. Both Donald Trump and Kamala Harris will be forced to reckon with the crises in the final days of their campaigns. AdvertisementViolence in the Middle East, a massive labor strike among East Coast and Gulf Coast dockworkers, and the devastation of Hurricane Helene all struck with only five weeks before the 2024 presidential election. "What we've seen out of Vice President Harris is we've seen steady leadership," he said when talking about the Middle East. What matters most now is how the candidates' messaging lands with specific communities impacted by these crises, Loge said.

Persons: Hurricane Helene, Donald Trump, Kamala Harris, —, Israel, Peter Loge, David Jones, Trump, Joe Biden, Randall Adkins, Adkins, Loge, it's, Sen, JD Vance, Tim Walz, Vance, Harris, Walz, Biden, she's, BRYAN R, SMITH, Jones, Grace Cary, Helene Organizations: Service, East, School of Media, Public Affairs, George Washington University, Baruch College, City University of New, Trump, University of Nebraska, Gov, Logistics, JPMorgan, Getty, Biden Locations: Hurricane, East Coast, Gulf Coast, East, Middle, Iran, Israel, Lebanon, Tehran, City University of New York, University of Nebraska Omaha, American, Arizona, Georgia, Wisconsin, North Carolina, Michigan

☆ $100 oil could be the October surprise no one wanted
▼ + stars: | 2024-10-03 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —The Middle East is in chaos, and the oil market is remarkably calm about it. The chill reaction in the oil market reflects a boy-who-cried-wolf mindset that has set in. Even just two years ago, oil prices skyrocketed to $130 a barrel in March 2022 after Russia invaded Ukraine. Oil prices skyrocketed in 2019 when Saudi oil facilities were damaged in an attack that US officials blamed on Iran. A disruption in the Strait of Hormuz could send oil prices above $100 a barrel, according to ClearView.

Persons: ”, Bob McNally, “, It’s, McNally, George W, Bush, Israel, ” Helima, Joe Biden, Croft, internationalize, Kevin Book, ClearView, it’s, Biden Organizations: New, New York CNN, Investors, Rapidan Energy Partners, Israel, RBC Capital Markets, CNN, CIA, ClearView Energy Partners, International Energy Agency, RBC, Strategic Petroleum Reserve, Citigroup, Citi Locations: New York, Iran, China, OPEC, Saudi Arabia, Russia, United States, ” Helima Croft, Ukraine, Israel, Saudi, Strait, Hormuz, Riyadh, Persian

☆ Oil rises as Middle East conflict deepens, gains capped by global supply outlook
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: +2 min

Oil prices ticked higher in early trade on Thursday as investors weighed the escalating conflict in the Middle East and the potential for disruption to crude flows, against an amply-supplied global market. But an unexpected build in U.S. crude inventories on Wednesday helped ease some supply concerns and curbed oil price gains. Some investors remained unfazed as global crude supplies have yet to be disrupted by unrest in the key producing region, and spare OPEC capacity tempered worries. OPEC has enough spare oil capacity to compensate for a full loss of Iranian supply if Israel knocks out that country's facilities. "The effectively available spare capacity might be much lower if renewed attacks on energy infrastructure on countries in the region happen," said Giovanni Staunovo, analyst at UBS.

Persons: derek, East, Jim Simpson, Giovanni Staunovo Organizations: Brent, . West Texas, Energy Information Administration, ANZ, East Daley Analytics, Reuters, OPEC, UBS Locations: Kuwait, Saudi Arabian, Israeli, Beirut's Bachoura, Iran, Israel, Palestine, Lebanon, Gulf

☆ Panic buying amid U.S. ports strike is creating supermarket supply concerns
▼ + stars: | 2024-10-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

There is no need for panic buying, and we encourage consumers to shop responsibly. Bill Simon, former CEO of Walmart, stressed that panic buying is serious and can have a cascading effect on domestic products. "Panic buying not only impacts the availability of imported products, but domestic products as well as consumers shift their purchase behavior," warned Simon. Walmart and Target did not immediately respond to requests about any panic buying patterns identified at their stores. John Catsimatidis, owner of the NYC super chain Gristedes, said the panic buying is occurring and showing no signs of slowing down.

Persons: Stew Leonard, Jr, Stew Leonard's, restocked, Bill Simon, Simon, John Catsimatidis Organizations: CNBC, Gulf Coasts, National Grocers Association, —, of Commerce, East, National Retail Federation, Walmart, Target, NYC Locations: Gulf Coast, East Coast, Gulf, United States, U.S, Canada, Mexico, East

☆ October surprises are piling up, but a toss-up race seems impervious to shocks
▼ + stars: | 2024-10-03 | by ( Stephen Collinson | ) edition.cnn.com time to read: +14 min

The trio of tests facing Harris comes with potential economic, political and humanitarian consequences if the administration errs. And the new scrutiny of Trump’s behavior after the 2020 election could cause some voters to again question his fitness for the Oval Office. Former President Donald Trump speaks during a campaign event at Dane Manufacturing in Waunakee, Wisconsin, October 1, 2024. NONE OF THIS HAPPENED WHILE I WAS PRESIDENT!” Trump wrote on Truth Social on Tuesday. But Trump has already tried to manipulate the tragedy for political gain, accusing Biden of “sleeping” following the storm.

Persons: Donald Trump, Kamala Harris, Biden, Hurricane Helene, Trump, Jack Smith, ’, Harris, Kamil Krzaczynski, Trump’s, ” Smith, Smith, ” Trump, Steven Cheung, JD Vance couldn’t, Augusta Mayor Garnett Johnson, Brendan Smialowski, Joe Biden, Helene, Amir Cohen, Hassan Nasrallah, Benjamin Netanyahu’s, Netanyahu’s, Netanyahu, “, ”, There’s, egging Netanyahu, Spencer Platt, “ Donald Trump …, Still, Mandel Ngan, they’ve, Brian Kemp, ” Biden, we’re Organizations: CNN, Oval, Dane Manufacturing, Getty, Trump, ”, Radical Democrats, Republican, Augusta, Democratic, White, Reuters, Wednesday, Democratic Party, Port, International Longshoremen’s Association, Biden, Republican Party, GOP, Raleigh Emergency Operations Center, Pentagon, National Guard, Georgia Republican Gov Locations: Hurricane, Waunakee , Wisconsin, AFP, Meadowbrook, Augusta , Georgia, Iran, Israel, United States, Tehran, Russia, Ukraine, Ashkelon, Lebanon, Gaza, Islamic Republic, Washington, Michigan, New York, Newark, Staten Island , New York, Gulf Coast, Raleigh , North Carolina, Georgia, North Carolina

☆ These brands could be hit the hardest by port strike: BofA's Peter Galbo
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThese brands could be hit the hardest by port strike: BofA's Peter GalboPeter Galbo, BofA Securities analyst, joins CNBC's 'The Exchange' to discuss the impact of the ongoing strike at East and Gulf Coast ports, how long his firm thinks the strike will last, and more.

Persons: Peter Galbo Peter Galbo Organizations: BofA Securities Locations: East, Gulf Coast

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