Flash News

TREE NEWS reports: Goldman Sachs said refined oil product prices in the Persian Gulf are running at 40% of their 2025 average, a level that signals a sharp collapse in regional refining margins. The bank did not elaborate on the cause or the timeframe in the note. The figure compares current Gulf product prices with the full-year 2025 benchmark.

TREE NEWS reports: UK 30-year and 50-year gilt yields each fell 5.1 basis points on Tuesday, with the 10-year yield down 2.2 bps at 5.410% in late European trading after dropping sharply between 22:00 and 23:00 Beijing time. The two-year yield rose 3.1 bps to 4.958%, and the 2s/10s spread narrowed 5.232 bps to +45.140 bps.

TREE NEWS update: Iran told Pakistan that it has “nothing new to say” to the United States, Iranian media reported. The message was conveyed to Pakistani officials, which gave no further details on the content of the communication or the circumstances under which it was delivered. The statement comes amid ongoing regional diplomacy involving Tehran and Islamabad.

TREE NEWS update: Iranian Parliament Speaker Mohammad Bagher Qalibaf said the United States must satisfy seven conditions before it can be trusted. Qalibaf did not specify the conditions in the remarks as reported. The comments come amid ongoing tensions between Tehran and Washington.

TREE NEWS update: Iran’s Revolutionary Guard said two oil tankers struck mines and caught fire while sailing on an illegal route through the Strait of Hormuz. The IRGC did not name the vessels, their flags or the size of their crews, and gave no casualty figures. The statement did not specify when the incident occurred or identify the mines involved.

TREE NEWS update: Voters in Alberta, Canada’s oil heartland, were set to reject a proposal to separate from Canada, handing a victory to Prime Minister Mark Carney. After about 1 million ballots were counted, roughly 76% backed remaining within Canada, and the Canadian Broadcasting Corporation projected the remain side would win. The other option on the ballot supported launching legal proceedings toward independence, which could have led to a second referendum.

TREE NEWS update: A food importer has filed suit against the Trump administration in the U.S. Court of International Trade over the 50% tariffs imposed on Canadian products. The legal challenge targets the duties on Canadian goods, with the company asking the court to weigh in on the tariff policy.

TREE NEWS update: U.S. Treasury Secretary Scott Bessent said he does not expect the turmoil in France’s bond market, where surging yields have raised fiscal concerns, to spill over abroad. “I don’t think the French situation spreads anywhere else,” Bessent said Tuesday in an interview with 2Way. He added that France’s position is “pretty tricky” but that he knows President Macron’s economic team well and considers it “first-rate.”

TREE NEWS reports: The European Union’s corn imports for the 2026/27 season rose 40% year-on-year as of Oct. 18, with shipments from the United States more than tripling, European Commission data published Tuesday showed. Soft wheat exports were broadly unchanged. Feed producers and starch makers had been expected to boost purchases to offset an EU harvest hit by drought that is projected to be the lowest since at least 2000.

TREE NEWS update: Carrefour lowered its 2026 financial targets following severe unrest in France over the weekend. The retailer reported third-quarter sales including VAT of €22.69 billion, against analysts’ expectations of €22.58 billion. Like-for-like sales excluding fuel and calendar effects rose 2.3% in the quarter, with French LFL sales up 1.2%.

TREE NEWS update: US Secretary of State Marco Rubio said India’s Reliance Group has an opportunity to help India continue diversifying its energy supply chain. Rubio made the remark without providing further details on the scope of the potential role or any specific projects.

TREE NEWS update: US Secretary of State Marco Rubio said oil shipments through the Strait of Hormuz have nearly returned to levels seen before the war involving the United States and Israel against Iran. Rubio did not provide specific figures or a timeline for the recovery in the statement.

TREE NEWS reports: The MSCI Nordic Countries Index fell 0.4% to 392.48 points, its lowest close since Oct. 9. Industrials was the weakest of the ten sectors, while Neste Oyj dropped 4.3%, the worst performer among Nordic constituents.

TREE NEWS reports: ICE UK natural gas futures fell 3.15% to 210.620 pence per therm late in the European session on Tuesday, October 20, after touching a session high of 222.600 pence at 20:13 Beijing time and then dropping to a session low of 205.690 pence at 22:59. TTF Dutch benchmark gas futures fell 3.66% to 84.569 euros per megawatt-hour, having earlier hit a four-year high of 90.255 euros at 20:18 before sliding to a session low of 83.501 euros at 22:32. ICE EU carbon allowance futures rose 0.26% to 85.62 euros per tonne.

TREE NEWS update: The US Treasury auctioned six-week bills at a high yield of 3.975%, with a bid-to-cover ratio of 2.74. The sale drew demand of 2.74 times the amount offered, the auction results showed.

TREE NEWS update: Bulgarian Prime Minister Rosen Zhelyazkov said on October 20 that a US Boeing P-8 Poseidon anti-submarine patrol aircraft has begun flying patrol missions over the Black Sea to conduct reconnaissance and detect activities that could pose a risk. He said several allies responded after he raised a request for assistance in talks with NATO Secretary General Mark Rutte.

TREE NEWS reports: Germany’s DAX 30 index closed provisionally 0.09% lower at 25,296.59. France’s benchmark index fell 0.24% and Italy’s index slipped 0.06%, with the Italian bank index down 0.47%. The UK index closed provisionally 0.30% lower.

TREE NEWS update: US Energy Secretary Chris Wright said diesel prices could ease significantly if Europe agrees to a coordinated release of diesel reserves. The remark, made in comments reported without a specific date, links a potential supply move to relief in diesel costs.

TREE NEWS reports: WTI crude rose 81 cents a barrel in five minutes to $97.17 and Brent gained 86 cents to $107.93, after diplomats involved in Iran-US negotiations said the talks are still ongoing and reports that a deal is imminent are untrue. The move higher in oil came as the denial pushed back expectations of a near-term agreement between Washington and Tehran.

TREE NEWS update: Mexican President Claudia Sheinbaum said the U.S. Trade Representative’s office and the U.S. Commerce Department hold a “positive” attitude toward Mexico’s trade agreement. She gave no further details on the status of the deal or a timeline. The remarks concern the U.S.–Mexico trade framework.