Top Overnight News Oil declined after President Donald Trump said the US would not attack Iran before November’s midterm elections, signaling a period of more than three weeks for no offensive military action against Tehran. BBG Three Saudi Arabian citizens were killed and others were injured in two attacks on the main airport in the capital, Riyadh, on Thursday, Saudi authorities said, as the kingdom faces intense fire from the Houthis. BBG Offshore US oil production is plummeting as Hurricane Isaias pushes toward a coastline dotted with refineries and chemical plants; Gulf producers have shut in some 1.3 million barrels a day, or 63% of output in the region. BBG China is set to resume October refined fuel exports after a brief halt during its Golden Week holiday, four traders familiar with the matter said on Friday, a move that will help ease tight global diesel, gasoline and jet fuel markets. RTRS Goldman's oil team estimates Brent's risk premium averaged $22/bbl in September, the second highest monthly reading on record, and sees upside risk to its price forecast if geopolitics keep the premium elevated for longer. GIR OpenAI expects annualized revenue to surge to at least $70 billion by year-end from roughly $50 billion at the end of September, people familiar said, driven largely by its enterprise business. BBG Bloomberg sources stated that OpenAI sees run-rate revenue reaching or topping USD 70bln in 2026 and that OpenAI annualised revenue was around USD 50bln at end-September. This followed an FT report stating that OpenAI's annualised revenue is about USD 20bln below what had previously been signalled. Newsquawk Apple has told some of its suppliers to cut production of components for its newly launched iPhone 18 Pro and iPhone 18 Pro Max, after soaring memory chip costs forced price increases that have dampened consumer demand. Nikkei Masayoshi Son is seeking to raise up to $100bn from Gulf investors, as the SoftBank founder hunts for fresh financial firepower to scale up a colossal AI bet that has already made him one of the technology’s biggest champions. FT Delta Air reduced its full-year earnings outlook due to high jet fuel prices stemming from the war in the Middle East. BBG Chinese stocks staged a sharp rebound, lifting all benchmarks into the green, with investors citing speculation that regulators have advised funds and insurers to limit sell orders. BBG Japan is eyeing as much as $44.3 billion of unused government funds to free up resources for Sanae Takaichi’s policy priorities. Household spending fell for a ninth month. BBG Flávio Bolsonaro has 52% support in the runoff against President Luiz Inácio Lula da Silva’s 48%, a Datafolha poll showed. BBG The US government is launching investigations into the use of foreign exchange visa programs at nine top colleges including Harvard, Stanford and MIT. BBG The Trump administration accused Microsoft, Adobe and others of abusing a US worker visa program and suspended them indefinitely from a longstanding immigration initiative. BBG Elon Musk’s SpaceX acquired low-band spectrum to enable its Starlink satellites to become a “major mobile carrier” in the US, sending incumbent carriers lower and tower stocks higher. BBG A further sharp rise in 10-year Treasury yields is “feasible” as hedge funds and other investors are forced to ditch losing bets on bonds, Pimco CIO Dan Ivascyn said. FT Fed Governor Waller said he anticipates “additional hikes”, though further hikes “do not need to come at consecutive meetings”. BBG ECB President Lagarde told euro-area finance ministers the ECB has instruments to deal with unwarranted and disorderly market dynamics. BBG Money market funds saw their biggest inflow since April 2020 in the week to Oct. 7, according to Bank of America strategists. BBG EU to assess a windfall tax on energy firms to soften the price shock. BBG Zelenskyy said Ukraine hit the Omsk and Ukhta oil refineries in Russia. BBG(Historical earnings: For fiscal 2026 Q3 (period ended 2026-05-28), Micron Technology reported basic EPS of 41.97, diluted EPS of 41.4, and net income of USD 47.268 billion. In the prior-year period (ended 2025-05-29), basic EPS was 4.79, diluted EPS was 4.75, and net income was USD 5.338 billion. For fiscal 2026 Q2 (period ended 2026-02-26), basic EPS was 16.91, diluted EPS was 16.68, and net income was USD 19.025 billion; in the prior-year period (ended 2025-02-27), basic EPS was 3.1, diluted EPS was 3.08, and net income was USD 3.453 billion. Consensus expectations: The next upcoming consensus is for fiscal 2026 Q4, with an EPS estimate of 32.5625 and no revenue estimate available.)