NPR News: 07-23-2026 8PM EDT

Speaker 10:00

This message comes from Capital One. With the Capital One Saver Card, earn unlimited 3% cash back on dining and entertainment. Capital One. What's in your wallet? Terms apply. Details at capitalone.com.

Ryland Barton· Host0:13

Live from NPR News in Washington, I'm Ryland Barton. President Trump says any damage done to ships in the Iran war will be paid for with Iranian assets that the US has frozen. In a post online, Trump said, quote, "This is the fair and equitable thing to do." Meanwhile, Yemen's Iran-backed Houthi rebels say they have attacked two Saudi oil tankers in the Red Sea. That comes as the Houthis have threatened to shut down another key trade route after Iran's closure of the Strait of Hormuz. NPR's Alina Selyukh has more on the ripple effects of surging oil prices.

Alina Selyukh0:47

Today, we saw airline stocks really have a rough trading day because the surge in oil prices suggests a surge in jet fuel.

Ryland Barton· Host0:55

Totally.

Alina Selyukh0:56

Another piece of news today came from the mortgage market, which is also interestingly connected to all this.

Ryland Barton· Host1:00

Hmm.

Alina Selyukh1:00

It's kind of a reflection of how the price of oil goes into the cost of shipping all kinds of things. And so there is a concern about inflation, how the government would respond with interest rates. Already fuel prices are driving up the yield on the 10-year Treasury bond, and this is the part that matters, that has been boosting mortgage rates. The average rate for a 30-year mortgage hit 6.58% this week, the highest in nearly a year.

Ryland Barton· Host1:22

NPR's Alina Selyukh reporting. Secretary of State Marco Rubio held direct talks with his Russian counterpart today on the sidelines