CNBC Daily Open: Crude flows back at prewar levels, but at what cost?

Key Points:

• Crude oil flows through the Strait of Hormuz have returned to prewar levels, averaging 13.5 million barrels per day, but refined product supplies remain constrained, leading to record-high diesel prices and supply issues globally.
• U.S. President Donald Trump is considering a ban on diesel exports to help lower domestic fuel prices, while Brent and WTI crude prices have fallen in early trading.
• The fourth quarter began amid bond market jitters and elevated Treasury yields, despite a softer inflation reading in the U.S.; Minneapolis Fed President Neel Kashkari emphasized that inflation remains too high.
• Google introduced its most advanced AI model, Gemini 4 Argon, featuring enhanced coding and cybersecurity capabilities, while Meta's stock surged nearly 30% in September following the release of its Muse personal AI agent.
• Commerce Secretary Howard Lutnick reported over $250 million in income last year, primarily from a $192 million distribution from Cantor Fitzgerald, reflecting his financial ties before joining the Trump administration.