$100 oil triggers TACO

David Llewellyn-Smith

Thursday 10 September 2026

War headlines today.

Comedy: Trump says war will end immediately after the midterms.
Iran announces a “20 for 2” response strategy in huge escalation doctrine.
Iran demands an end to strikes, an Israeli withdrawal from Lebanon, an end to the blockade of Yemen, and the release of $24 billion in frozen assets in order to end the war.
Drone hits Iraqi tanker in Gulf.
Pakistan says Houthi attacks might trigger the Mecca Agreement.

Brent is at $102, and diesel prices are soaring.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.