President Trump called off the a ceasefire with Iran Wednesday morning, sending the U.S. back into a military conflict — and sending oil prices back up after weeks of steady cooling. In this episode, Kai calls up economist Robin Brooks at Brookings to explain how a reignited war will affect global oil markets and prices at the pump. Plus: Retailers stock up early for the 2026 holiday season, businesses surpass homes’ energy use for the first time on record, and corporations issue more shares to raise capital.

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Read the stories in today’s episode:

• Trump calls off Iran ceasefire, a move that "obviously will push oil prices up"
• Some business owners are stocking up early for the holidays
• Why public companies have been on a tear issuing new shares
• Businesses are using more electricity than homes for the first time on record
• What the energy shock means for the decarbonization industry