***Update…4:37 PM ET…Pope Leo has lung cancer…when I posted, this hadn’t been revealed….
Tues., Oct. 13, 2026
[4:10 PM ET…closing prices for stocks, 3:50ish for commodities and bonds]
Tale of the Tape at the gas pump, nationwide averages, courtesy of AAA.
Fri., Feb. 27…regular $2.98…diesel $3.75
Tues., Oct. 13…regular $4.34…diesel $6.27
This morning, crude oil was down below $92 on WTI, $103 on Brent, with heating oil futures at $4.66, but then after reports Saudi Arabia intercepted more missiles and drones launched by Yemen’s Houthis, and reports of attacks on shipping in the Persian Gulf and Strait of Hormuz, WTI rose back to $94, Brent over $105, and heating oil (diesel) surged back over $4.90.
President Trump posted on Truth Social at noon today:
“The Houthis are behaving very badly. I thought they learned their lesson a year ago when we bombed the HELL out of them and, at their request, stopped. They’ve been silent for a long time, but now they’ve emerged again, probably at the behest of Iran, which is a Failing Nation, with No Navy, No Airforce, the World’s Worst Economy, and 301% Inflation, in a very nasty way, hitting Saudi Arabia, and purposefully trying to drive up Oil Prices, probably prior to the U.S. Elections – NOT NICE. Somebody should explain to them that I’m not running in the Elections, I’ve already won, IN A MASSIVE LANDSLIDE, but I’ll be there after the Elections, and I will never forget!”
The death toll in Saturday’s Houthi attack on King Khalid International Airport in Riyadh, Saudi Arabia, rose to 18.
Meanwhile, OPEC raised its forecast for global oil demand growth in 2027, citing the need to replenish inventories depleted by the Iran conflict, but lowered its 2026 outlook for a sixth consecutive time.
Regarding heating oil, Russia and Ukraine exchanged strikes against each other’s power and gas facilities, with President Trump’s supposed “energy ceasefire” between the two a fantasy. And as for Russia’s pledge to release 36 million barrels of diesel for export, they had previously halted exports after Ukraine’s repeated attacks on Russia’s refineries.
Bonds yields were falling with lower crude this AM, but finished just below yesterday’s level on the U.S. 10-year, the 2-year yield slightly higher on the day.
Chip stocks suffered most of the day after South Korea’s Kospi index fell over 5%, led by declines in SK Hynix and Samsung Electronics. Broadcom CEO Hock Tan sounded the alarm, saying financing may be a bigger problem than chip shortages.
“A lot of investors have no clue what they are investing in,” the head of the American chipmaker said at an event in Singapore. They “set very extreme expectations only to find out that it’s almost like they are in a casino.”
The tech-heavy Kospi is down a third from its high set in June.
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The Dodgers, down 2-0 to the Brewers as they head back to L.A. in the NLCS, have a big decision prior to tomorrow’s Game 3…whether to bench Shohei Ohtani, who is in the deepest slump of his career, homerless in 24 games, 3-for-20 in the postseason, and costing his team.
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Us Catholics are hopeful today as the Vatican said Pope Leo XIV had successful surgery to remove the nodule from his lung. He’ll be recovering for a week in hospital in Rome and then we’ll see if this in any way impacts his future travel…which is critically important in spreading the faith…plus, he’s already proven to be a tremendous messenger.
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Dow Jones -179…-0.4% [51670]
S&P 500 -1…-0.02% [7805]
Nasdaq -41…-0.2% [27204]
Oil (WTI) $94.60…Brent $106.10
Gold $4165
Silver $59.30
Bitcoin: $83,229 [4:00 PM ET]
U.S. 2-yr. 4.79%
U.S. 10-yr. 5.21%
Japanese 10-yr. 2.99%
Back Wed.
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Brian Trumbore
