Oct 24, 2026
5 min read
Fears of renewed US strikes on Iran dominated the news after a senior US diplomat said an attack could come this weekend and Washington cut staff at four Middle East embassies. Brent crude ended the week at its highest close since April, and gunmen killed seven people at a church funeral in Jordan.
US envoy says Iran strike possible this weekend
Tom Barrack, the US ambassador to Turkey, said on Friday that the US could strike Iran within days. "Could there be a strike this weekend? Absolutely," he told podcaster Mario Nawfal. President Donald Trump said he knew nothing of the remarks but told a Florida rally the US "may do another little Epic Fury", the name of its earlier strikes, "or they'll agree". On Saturday, Iran's armed forces chief of staff, Major General Ali Abdollahi, said US warships would not be allowed into the Gulf "under any circumstances", Gulf News and ANI reported.
US cuts embassy staff over Iranian threats
The State Department is reducing staff at US embassies in Jordan, Lebanon, Qatar and the United Arab Emirates, the Associated Press (AP) reported on Friday. In a memo to Secretary of State Marco Rubio, first reported by Axios, Director of National Intelligence Jay Clayton wrote that Iran had "substantially increased efforts to target U.S. personnel". The embassies will stay open. The State Department cited threats from Yemen's Houthis, and US officials denied any link to possible new strikes on Iran. Non-essential staff were ordered out of Saudi Arabia on Wednesday.
Week in markets: oil surges as stocks slip
Brent crude settled at $116.72 a barrel on Friday, up about 6% on the week, its highest close since 29 April, on Houthi attacks and fears of US strikes on Iran. US crude settled at $103.27. The S&P 500 fell 0.5% for the week to 7,623.68 and the Nasdaq Composite lost 0.7%, after worries about artificial intelligence (AI) spending hit tech shares, while the Dow Jones Industrial Average gained 0.4%. Europe's STOXX 600 fell about 1.4%. The 10-year US Treasury yield ended near 5.00%, the dollar index near 101.8, and gold lost about 4% to near $4,000 an ounce.
SpaceX wireless plans hit US telecom shares
Shares in AT&T and T-Mobile US fell nearly 8% on Friday after Bloomberg News reported that SpaceX was in talks to access at least 80,000 US cell sites to build its own wireless carrier, AP and Reuters reported. Tower operator Crown Castle, named in the report as one of the companies in talks, rose about 9%, and American Tower gained about 4%. Bernstein analysts said any competitive impact could be years away.
Istanbul ministers urge US-Iran diplomacy
Foreign ministers from Britain, France, Germany, Italy, Turkey, Saudi Arabia, Pakistan and Egypt met in Istanbul on Friday and urged restraint between the United States and Iran. Turkish Foreign Minister Hakan Fidan said none of the participants backed another military attack on Iran. French Foreign Minister Jean-Noël Barrot said escalation "would create nothing but losers". Turkey, Saudi Arabia, Pakistan and Egypt issued a separate statement calling for the full resumption of secure passage through the Strait of Hormuz.
Gunmen kill seven at Jordan church funeral
Gunmen opened fire during a funeral at a Greek Orthodox church in Jordan's Karak governorate on Friday, killing at least seven people and wounding dozens, officials said. Survivors told Al Jazeera that masked attackers fired for several minutes. Interior Minister Mazen al-Faraya called it an "unprecedented" terrorist attack, and King Abdullah II vowed the harshest penalties for those responsible. No group had claimed responsibility, and officials did not say whether any attackers had been caught.
Israel orders West Bank closure after soldiers killed
Prime Minister Benjamin Netanyahu's office ordered the army on Friday to prepare a full closure of the occupied West Bank after two Israeli soldiers were killed in a shootout near Hebron, AP reported. The military said troops killed two Palestinian gunmen and three other soldiers were lightly wounded. Netanyahu blamed Hamas. The army began searches in Hebron that it said would last several days. Israelis vote in a general election on Tuesday.
Melania Trump brokers ceasefire for Oleshky
Russia and Ukraine agreed a local ceasefire around Oleshky, a Russian-occupied town in Ukraine's Kherson region, to allow aid and evacuations, the White House said on Friday, crediting first lady Melania Trump with mediating it. Ukrainian and Russian military statements said the truce would start early on Tuesday, 27 October, although the White House had given 29 October. About 2,000 remaining residents may leave for Russia or Ukraine. Ukrainian President Volodymyr Zelenskiy said three-way talks with Russia and the United States would begin in November.
Romania blames Russia for Black Sea sinking
Romanian President Nicușor Dan blamed Russia on Friday after a drone strike sank the Khoryv, a Comoros-flagged cargo ship, about 13 nautical miles off the port of Constanța, just outside Romanian territorial waters. One sailor was killed, three were missing and nine were rescued from a crew of 13 Ukrainian and Azerbaijani seafarers, Al Jazeera and Marine Insight reported. Dan called the attack a "new example of the tragic consequences of Russia's aggression against Ukraine". Russia did not publicly comment.
Moody's keeps France's rating, outlook negative
Moody's left France's sovereign credit rating at Aa3 with a negative outlook on Friday, announcing the decision after US markets closed. The agency said slower growth and higher deficits had pushed France's debt burden higher than expected, and flagged the sharp rise in French government bond yields. It expects debt to exceed 120% of gross domestic product (GDP) in 2027. Fitch and S&P Global already rate France one notch lower, at A+. The decision follows weeks of unrest in France.
Houthi missile aimed at Riyadh intercepted
Saudi air defences intercepted a ballistic missile fired by Yemen's Houthis towards Riyadh early on Saturday, coalition spokesman Turki al-Malki said. Two explosions were heard in the capital and civil defence activated its early warning system, Agence France-Presse (AFP) reported. The Saudi-led coalition also said it destroyed a drone over the Eastern Province. The Houthis have stepped up missile and drone attacks on Saudi Arabia this month, including strikes on airports and Saudi Aramco facilities.
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