SpaceX’s Starlink Push, The Real Price of Oil, and the NBA’s Big Bet 10/9/26

SpaceX's spectrum deal is repricing telecom and tower stocks while oil's futures price understates true physical costs by $40-50/barrel.

• SpaceX spectrum shock: SpaceX's purchase of nationwide cell spectrum (building on last year's $20B EchoStar deal) sent Verizon, AT&T and T-Mobile down 8-9%, while tower operators American Tower, Crown Castle (+11%) and SBA Communications jumped on hopes of a new fourth tenant.
• Oil's hidden cost: Energy Aspects' Amrita Sen says futures capture only ~50-60% of physical costs after Iran/Houthi attacks on Saudi Arabia; all-in crude is $40-50 above screen price, diesel near $200/barrel equivalent.

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