Chain, Crude & Chips: October 8, 2026
Oil, bitcoin and AI chips in three short updates.
Chain, Crude & Chips · Thursday, October 8, 2026 · 9:30 PM ET
Crude: oil jumps about 4%
Brent crude rose from a $100.20 close on Wednesday to above $104 a barrel at its high, and Brent and US crude both settled roughly 4% higher. Reports pointed to attacks on shipping near the Strait of Hormuz and hurricane-related production shutdowns in the US Gulf of Mexico. Full story.
Chain: bitcoin slides on oil, yields and cryptography worries
Bitcoin fell about 4% from Tuesday's high near $86,600, trading below $83,000 early in the day and dipping under $81,000 at its lowest, according to CoinDesk and Yahoo Finance. Both Yahoo Finance and Crypto Briefing reported roughly $1 billion in crypto liquidations, mostly on bets that prices would rise. CoinDesk tied the selling to rising oil and Treasury yields, worries about the future of cryptography, and weakness in tech stocks. Prices moved a lot through the day and sources report different levels, so treat the figures as approximate.
Chips: a revenue report hit AI stocks
Chip stocks fell after the Financial Times reported that OpenAI's annualised revenue is about $20 billion lower than previously signalled. The Nasdaq Composite lost 1.25%. Full story.