Iran’s Oil Minister Resigns as Hamid Bovard Takes Interim Role
Mohsen Paknejad resigned as Iran’s oil minister, and National Iranian Oil Company chief Hamid Bovard was appointed acting minister.
OPEC+ Holds November Oil-Production Targets Steady
Seven OPEC+ members will keep November production requirements at September levels as actual output remains constrained and attention shifts to 2027 quotas.
Nearly 1,400 Workers Laid Off at Springfield, Ohio Truck Plant
Nearly 1,400 workers were laid off September 30 at a former Navistar truck plant in Springfield, Ohio, creating an immediate shock for the Dayton-area economy.
Iran Says Strait of Hormuz Will Stay Closed Until Seven Conditions Are Met
Iran’s parliament speaker says the Strait of Hormuz will not reopen until seven conditions tied to a June agreement are satisfied, as Qatar continues mediation.
G7 Orders 100 Million-Barrel Emergency Oil and Diesel Release
G7 leaders agreed to release 100 million barrels of oil and diesel reserves over four months, with diesel supplies front-loaded in the first 20 days.
U.S. Added 29,000 Jobs in September as Unemployment Rose to 4.2%
U.S. payrolls increased by 29,000 in September while unemployment rose to 4.2%, according to the Labor Department's October 2 report.
U.S. 10-Year Treasury Yield Touches 5.34% in Global Bond Selloff
The 10-year U.S. Treasury yield reached 5.34% on October 1, its highest level since 2002, before easing as a global government-bond selloff continued.
U.S. Construction Spending Rises 0.9% in August but Remains Below 2025
U.S. construction spending increased 0.9% in August 2026 to a seasonally adjusted annual rate of $2.203 trillion, while remaining 1.7% below the August 2025 level.
U.S. Manufacturing Holds at 54.5 in September as Input-Price Index Jumps
The ISM Manufacturing PMI registered 54.5 in September 2026, marking a ninth straight month of expansion as new orders and employment improved while the prices index rose sharply.
U.S. Weekly Jobless Claims Dip to 197,000 as Continuing Claims Fall
Initial U.S. unemployment claims fell to 197,000 for the week ending September 26, while continuing claims declined to 1.701 million, Labor Department data show.