More expensive gas, semiconductors likely pushed up inflation last month

The Independent - Oct 14, 2026

Inflation likely worsened in September in one of the last price reports the government will issue before the midterm elections that have been heavily defined by concerns over affordability

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Oct 14, 2026

Oil prices gain on attacks in Saudi Arabia, Iran's new tactics to target tankers

NEW YORK — Oil prices rose on Wednesday after the Houthis attacked Saudi Aramco's headquarters and Iran said it was deploying new tactics to target ships and keep oil prices high. Brent crude futures were up 87 cents, or 0.82 percent, at $106.56 a barrel by 1:25 p.m. ET (1725 GMT). U.S. West Texas Intermediate crude gained $1.46, or 1.55 percent, to $95.60, touching a three-week high. Attacks on ships transiting the Strait of Hormuz and strikes between Saudi Arabia and the Iran-allied Houthis are driving up oil prices, said Phil Flynn, senior analyst with the Price Futures Group. "We're seeing a lot of fear trade today," he added. Iranian officials declined to provide details of the new strategy to target ships, but one said Iran had started using different offensive tactics about 10 days ago. Gulf oil flows excluding Iran surged in September to more than 81 percent of prewar levels, data showed, led by a recovery in Saudi exports. Iranian exports fell to zero owing to a U.S. blockade. "More crude reaching international markets does not necessarily mean more oil is being produced," Saxo

Oct 14, 2026

USFK chief says 'conditions have changed' while stressing OPCON transfer requirements

WASHINGTON — U.S. Forces Korea (USFK) Commander Gen. Xavier Brunson said Wednesday that "conditions have changed" while stressing the requirements in the transfer of a conditions-based wartime operation control (OPCON) from the United States to South Korea. "Because the conditions have changed, because we've changed our plan, we have new standards which we have to uphold," Brunson said while sharing his thoughts on the topic of OPCON transfer during the annual Indo-Pacific Summit hosted by the Gold Institute for International Strategy in Washington. The general cited North Korea's missile launches carried out earlier this week as evidence of such change. "A cursory glance of a newspaper would tell you that the conditions have most assuredly changed." On Monday, North Korea test-fired tactical ballistic missiles toward the East Sea, part of efforts to upgrade a key component of its weapons systems, with the country's state media calling it a "big success." Brunson's comments come amid a perceived gap between Seoul and Washington over the timing of OPCON transfer. Seoul seeks to retake wa

Oct 14, 2026

US stocks drop to their worst day since July as inflation worsens

NEW YORK — U.S. stocks dropped to their worst day since July on Wednesday following the latest signal that inflation is getting worse. The S&P 500 sank 1.1 percent for a fifth loss in the six days since setting its all-time high. The Dow Jones Industrial Average fell 48 points, or 0.1 percent, and the Nasdaq composite slid 1.9 percent as stocks in the artificial-intelligence industry led the way lower. Stocks felt pressure from rising yields in the bond market, where worries grew after a report said U.S. consumers had to pay prices for fuel, food and other costs of living last month that were 3.7 percent higher overall than a year earlier. That means inflation accelerated from its 3.4 percent rate in August and was worse than the 3.6 percent that economists expected. Inflation has remained more painful than anyone would like since the economy catapulted out of the crevasse created by the COVID-19 pandemic. It’s accelerated recently in part because of jumps in fuel prices caused by the war with Iran, and the price for a barrel of Brent crude added 0.4 percent Wednesday to $106.06. Tha

Oct 14, 2026

Trump claims again S. Korea to invest in Alaska LNG project under trade deal

WASHINGTON — U.S. President Donald Trump said Wednesday that South Korea will invest $50 billion in a massive liquefied natural gas (LNG) project in Alaska as part of an investment agreement with Washington, despite uncertainty over Seoul's participation. "This 50 Billion Dollar Infrastructure Investment from The Republic of Korea is part of their Trade and Investment Deal with me," Trump wrote on Truth Social, while describing his visit to Alaska for a campaign rally on Tuesday. The remarks were the latest from the Trump administration claiming that South Korea is committed to the Alaska LNG project. Seoul has maintained that its participation remains subject to a commercial viability review. Trump also said that Taiwan has agreed to invest $4.4 billion in equity into the project, calling it the "greatest project in Alaska history." White House Press Secretary Katie Zacharia also said Tuesday that $54 billion was tied to the Alaska LNG project as part of a South Korean energy investment package. "President Trump also unveiled a South Korea energy investment package of up to $200 billio

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Oct 14, 2026

More expensive gas, semiconductors likely pushed up inflation last month

Oil prices gain on attacks in Saudi Arabia, Iran's new tactics to target tankers

USFK chief says 'conditions have changed' while stressing OPCON transfer requirements

US stocks drop to their worst day since July as inflation worsens

Trump claims again S. Korea to invest in Alaska LNG project under trade deal

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