International oil prices are rising amid the conflict in Iran, adding pressure to households that rely on heating oil. In the UK, heating oil has climbed from about 60p a litre before the conflict to about 97p a litre, according to price comparison website Boiler Juice. The UK government said it is providing £53m to support heating oil users and allocating £1bn to local authorities through the Crisis and Resilience Fund. It also said it has cut duty on red diesel used by agriculture and fishing to its lowest rate in more than 20 years.

OpenAI has ruled out a 2026 initial public offering, with chief executive Sam Altman saying AI safety challenges make it a poor time to list. The company had previously discussed a potentially trilliondollar IPO with 2026 as an initial target. It has now pushed the likely timetable to 2027. Altman said the team faces significant responsibility regardless of timing.

Crude oil climbed above $US100 a barrel last week, with jet fuel rising to $US163 as the war drags on. Qantas said its fuel bill increased by $610 million in the year to June 2026, and it expects jet fuel prices to stay elevated through the rest of calendar year 2026. Virgin Australia said it is more exposed after its hedging of jet fuel refining margins fell from around 80 per cent to only 20 per cent for 1H27, and its fuel costs could rise by as much as $700 million. Average diesel prices have also jumped 45%.

US inflation ran hotter than expected in August, and producer prices posted their biggest month-on-month rise since May, reinforcing expectations for a Federal Reserve rate hike next week. The 10-year US Treasury yield rose to a fresh three-year high above 4.9% even after a bond buyback program was rolled out. Across Asia, economies are facing renewed inflation pressure and tighter policy constraints after oil climbed back above $100.

OpenAI CEO Sam Altman said the company is pausing its planned 2026 IPO, citing concerns about potential AI safety risks, including the possibility of human extinction. Altman said AI development should proceed cautiously as calls for regulation continue to grow. Rival Anthropic, meanwhile, plans to keep moving ahead with its own IPO.

OpenAI CEO Sam Altman said the company will not go public in 2026, pointing to concerns about artificial intelligence safety in an interview with Fortune. He said the current moment would be “illadvised” for an IPO and that OpenAI does not feel pressured to list. Separately, SpaceX IPO shares fell sharply after a rally that lifted the company’s valuation to $1.8 trillion.

OpenAI CEO Sam Altman said the company’s IPO plans are likely to be delayed until after 2026. He also backed a proposal from Anthropic CEO Dario Amodei to slow frontier AI development while expanding safety evaluations and international coordination. Altman said the industry still has significant work to do to address safety concerns and fears of losing control of advanced AI systems.

OpenAI CEO Sam Altman said the company’s long-anticipated IPO is likely to be pushed back beyond 2026, while endorsing calls to slow the pace of AI development amid safety concerns. Anthropic CEO Dario Amodei has outlined a three-step safety plan that includes embedded third-party evaluators, shared safety standards and limits on unchecked AI progress. Both executives said the industry and governments need to work together to address risks around control of advanced AI systems and alignment with human values.