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Trump rejected Iran’s proposal to reopen the Strait of Hormuz on Saturday. WTI jumped 1.3% to $93.62 overnight. He told Axios Iran “overplayed their hand”—then said he expects talks this week. Fox
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Saudi coalition intercepted Houthi drones targeting Riyadh and two ballistic missiles targeting Khamis Mushait on Saturday. Saudi jets then struck Taiz in Yemen. The UN Security Council condemned the attacks the same week. Reuters
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British police arrested five men near RAF Fairford on terrorism charges Sunday. The base hosts US Air Force units used in Iran strikes. Bomb squad is still searching their vans. AP
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Russia sent 170 drones into Ukraine Saturday night. Air defense downed 147. The other 23 found targets. Reuters
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At least eight killed Sunday in Russian strikes across multiple Ukrainian cities. Kyiv districts were hit again. Reuters
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Iran’s FM Araghchi said Tehran “will not back down” from its terms. The offer: reopen Hormuz in seven days, restart talks. Indirect talks via Qatar could begin as early as today. Fox
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White House used a pocket rescission to cancel $810 million Congress had approved. Targets: refugee services, migrant education, diversity programs. Lawmakers from both parties called it an overreach. Fox
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September payrolls report comes Friday. Last one before the Nov 3 midterms. August was 162,000 at 4.1% unemployment. BLS
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Gas hit $4.48 per gallon national average. Highest ever for late September per AAA. It was $4.15 on Labor Day, three weeks ago. Reuters
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China’s NBS manufacturing PMI prints Tuesday night. Last read before Golden Week shuts mainland markets Thursday through Oct 7. BBG
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