Hurricane Isaias

A grey U.S. Navy MH-60 Sea Hawk helicopter seen from below, banking against a blue sky, with a crew member seated in the open cockpit door beside a mounted machine gun.

Oil Fell on Trump's Pledge of No Iran Strike, Then Closed Higher on a Hurricane. Tanker Attacks Are Running at a Wartime High.

Brent settled at $104.72 and West Texas Intermediate at $91.85 on Friday, both higher on the day and the week. Early losses on President Trump's remarks about Iran were erased as more Gulf of Mexico output shut ahead of Hurricane Isaias, while attacks on tankers hit a wartime high.

By Daniel Okafor 13 minutes ago

Floodwater covering a street between raised beach houses, with mailboxes and utility poles standing in the water under a grey sky.

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Isaias Could Cost Insurers a Few Billion Dollars. Much of Its Flood Damage May Not Be Insured at All.

Gallagher Re puts insured losses from Hurricane Isaias in the low to mid-single-digit billions of dollars if it comes ashore at Category 1 or 2 strength, and says reinsurers have the capital to absorb that. The larger risk falls on households: in many inland counties, take-up of federal flood insurance is 2 to 5 per cent or less.

By Cory Chamberlain October 8, 2026

Hurricane Isaias

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Oil Fell on Trump's Pledge of No Iran Strike, Then Closed Higher on a Hurricane. Tanker Attacks Are Running at a Wartime High.

Isaias Could Cost Insurers a Few Billion Dollars. Much of Its Flood Damage May Not Be Insured at All.