Lead
Oil tops $102 on a report Trump wants Iran strike options before the midterms; DAX slips under 25,000

- The Atlantic, citing two officials, reports the White House asked the Pentagon for Iran strike options that could be carried out before November’s midterms. Size, targets and whether to go ahead are still being debated.
- Brent climbed above $102 and WTI traded near $90 (Bloomberg). Hurricane Isaias also shut in over 510,000 barrels a day of Gulf of Mexico output, about a quarter of the region’s supply.
- A tanker off Qatar’s northern tip was hit “by multiple projectiles”, the first reported attack deep inside the Gulf in about a month (UKMTO). An IRGC adviser says Iran will close the southern route along Oman’s coast that ships use to get around its blockade.
Why it matters — This morning’s story was the Fed and yields; by lunch, oil and war risk are back on top. As long as both stay high, CMC Markets’ Andreas Lipkow expects investors to stay away from bigger stock purchases.



