Zoom in: Although prices have been rising modestly all week, oil traders straightened up this morning after President Biden acknowledged the possibility.
Iran, an Opec member, exports about half of the 3.3 million barrels of oil it produces each day.
Between the lines: Although most analysts say immediate supply disruptions are not likely in the U.S., today's market reaction reflects a growing fear among traders of a longer-term escalation.
Today's price spike for benchmark U.S. crude was the largest single-day gain since the early stages of the Israel-Hamas war a year ago, WSJ noted.
State of play: The airline will no longer serve hot meals on transatlantic flights for people seated in economy class, Business Insider reported.
Westbound travelers will get a choice of pesto pasta salad or mushroom and lentils, while eastbound travelers get a chicken grain bowl or ginger garlic tofu.
The big picture: "Low-cost and ultra-low-cost carriers have been shaking up their operations as they contend with reduced profits," Business Insider writes.
đź’ Nathan's thought bubble: Time for a hunger strike.
Jerry Brito, the original executive director of the pioneering crypto advocacy group in Washington, Coin Center, is preparing to leave the organization at the end of the year, as one of his long-time deputies takes over.
Why it matters: The organization began in 2014, when only a handful of elected leaders even knew what Bitcoin was. Today, you'd be hard-pressed to find one who didn't have an opinion about cryptocurrency.
The big picture: The broadest change he's seen over his 10-year tenure, Brito tells Axios, is crypto becoming quite partisan. (It wasn't, early on.)
"When you think of crypto and who's building it, it's a certain demographic that I think progressives are suspicious of," he says.
Enforcement lead Gurbir Grewal is leaving the SEC on Oct. 11. His name is familiar to us, as it frequently appears in announcements about charges against cryptocurrency firms
Between the lines: In the agency's announcement, it notes that he brought over 100 enforcement actions against digital asset firms.
The cases of Coinbase and Binance are cited, both of which are still in court.
The latest: Sanjay Wadhwa has been named acting director of enforcement.
With Americans groaning under the weight of high rents and home prices, the Republican vice presidential nominee sees a primary culprit: immigrants, who he says are pushing up housing costs. It's certainly a plausible story, but a more complicated one than Vance suggested.
The big picture: Some academic work points to immigration inflows increasing housing prices, and a top Federal Reserve official has raised the possibility that it is a factor at play in rising rents. But the recent home price surge's timing and geography don't align with a tidy immigration-driven story.
Bain Capital is supporting a share buyback plan by Korea Zinc, the world's largest refined zinc smelter, which is designed to prevent what it argues is a "hostile" takeover by MBK Partners.
The big picture: This is a bitter fight between the founding families of a $12 billion metals giant, each of which now has a deep-pocketed private equity firm on its side.
Here's what's new on Netflix, Prime Video, Max, PBS, Hulu, BET+, Apple TV+ and Peacock.
What we're watching: There's a new season of "Love Is Blind," a thriller about a haunted restaurant and a new comedy that pokes fun at superhero filmmakers.
