The premium for Middle East benchmark crude oil surges as tensions in the Strait of Hormuz ignite supply concerns.

On Thursday, SpaceX SPCX.O announced it had reached an agreement (link) to acquire a portfolio of low-frequency band spectrum licenses across the United States, which will enable Starlink Mobile to become a major telecommunications operator in the US. Following this news, shares of European telecom service providers fell by 3% to 7%. Deutsche Telekom DTEGn.DE, which holds a 54% stake in T-Mobile US TMUS.O, saw its share price drop by 7%, set for its biggest single-day loss since June 2023. “Deutsche Telekom is negatively impacted as competition in the US market intensifies,” according to a local trader. This acquisition could potentially allow SpaceX to provide direct mobile communication services to smartphones from space in the future. Scotiabank pointed out, “SpaceX’s acquisition of spectrum in the US today makes the threat of hybrid networks more realistic, though network capacity and deployment economics in dense markets have yet to be validated.” Spanish operator Telefonica TEF.MC, France's Orange SA ORAN.PA, and UK’s Vodafone VOD.L all declined by about 3%. The European STOXX 600 telecom index .SXKP dropped 2.8%. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Since these automated translations may contain errors or lack the needed context, Reuters does not guarantee the accuracy of automated translation texts and provides them for reader convenience only. Reuters bears no responsibility for any harm or loss due to use of automated translation.)

Current Spread in Yield Basis Points U.S. 5.243 % Australia 5.345 % 10.2 Belgium 4.295 % -94.8 Canada 3.929 % -131.4 Denmark 3.260 % -198.4 France 4.816 % -42.7 Germany 3.474 % -177.0 Italy 4.540 % -70.3 Japan 3.017 % -222.6 Netherlands 3.577 % -166.6 Spain 4.064 % -117.9 Sweden 3.205 % -203.8 U.K. 5.427 % 18.4 Source: Tullett Prebon via FactSet (END) Dow Jones Newswires October 09, 2026 04:10 ET (08:10 GMT)

04:10 AM EDT, 10/09/2026 (MT Newswires) -- TRexBio (TRXB) said Thursday it priced its initial public offering of roughly 8.3 million common shares at $14 per share. The company expects to raise roughly $116.7 million in gross proceeds from the sale, and its stock is expected to begin trading Friday on the Nasdaq Global Select Market (NDAQ) under the ticker symbol TRXB, the company said. Underwriters have a 30-day option to buy up to an additional 1.25 million shares, and the transaction is expected to close Oct. 13, pending customary conditions, TRexBio said.