Oil prices are staying high and global markets took a hit, which is bad for drivers and investors but a mixed bag for oil producers.

• A ship fire near Iraq, tied to Iran-linked fighters who had earlier launched drone attacks on oil facilities, is keeping the region on edge and oil prices elevated — U.S. crude held above $100 a barrel and European crude stood even higher.
• Turkey, Pakistan and Saudi Arabia met with Iranian officials but only agreed to keep talking, so no real de-escalation yet.
• Microsoft is offering buyouts to 60,000 employees as it tries to control costs while pouring money into AI; affected staff must decide by early December, with quarterly earnings due soon.
• Brazil's stock market crashed and trading was automatically halted after a contested election result, showing how political shocks can hit markets hard.

Outlook: Oil prices likely stay high as long as the Gulf conflict and diplomatic talks remain unresolved, keeping pressure on gas prices and markets.