Flash News

TREE NEWS update: US Central Command said Iran’s Revolutionary Guard claim that it destroyed a US Navy unmanned surface vessel is false, stating that all US military unmanned surface vessels in the Middle East are confirmed intact. That includes an advanced unmanned surface vessel unit patrolling the Strait of Hormuz in support of CENTCOM’s defensive posture.

TREE NEWS reports: Chile’s copper commission Cochilco expects the refined copper surplus to equal 0.5% of global consumption in 2026, rising to 0.8% in 2027. The forecast points to a growing oversupply in the refined copper market over the next two years.

TREE NEWS reports: UK 30-year gilt yields fell 23.5 basis points over October to 5.714%, while 50-year yields dropped 24.3 bps to 5.123%, with both trending lower through the month. The 10-year yield slipped 1 bp on Friday to 5.284%, bringing its October decline to 14.0 bps. Two-year yields fell 3.1 bps to 4.867% on the day and 2 bps over the month, after a V-shaped reversal in the first 20 days of October.

TREE NEWS reports: Exxon Mobil, Chevron, BP, Shell and TotalEnergies together posted $56.3 billion in adjusted net profit for their latest quarter, beating analyst estimates for the third-highest combined total on record, as Persian Gulf and Russia-Ukraine conflicts disrupted energy markets. Refining units set records, with Exxon’s refining business earning $9.05 billion in the third quarter and Chevron’s $4.93 billion. The majors resisted boosting share buybacks for fear of political backlash.

TREE NEWS reports: Russian-controlled Serbian oil company NIS has received a new US sanctions waiver valid until December 11, Serbia’s state broadcaster RTS reported Friday. The waiver allows NIS, which operates Serbia’s only refinery, to continue importing crude oil while Russia sells its majority stake in the company to Hungarian energy firm MOL.

TREE NEWS update: Dallas Fed President Lorie Logan, a 2026 FOMC voter, said she still expects the Federal Reserve to raise rates at least twice more by 25 basis points each, though it can move gradually to let households, businesses and markets adjust. In remarks prepared for an event in Davidson, North Carolina, Logan said skipping one meeting would not change the endpoint of monetary policy, and that after the two hikes the Fed should pause to assess economic and financial developments.

TREE NEWS update: The Trump administration is pressuring Lithuania to relax EU sanctions on Belarusian potash exports, aiming to secure cheaper fertilizer for US farmers and reduce reliance on Canada. European officials oppose the move. The push targets EU restrictions that Lithuania has enforced, with Washington seeking relief on potash flows from Belarus.

TREE NEWS update: Russian presidential press secretary Dmitry Peskov said on October 30 that there is currently no plan for a phone call between Russian President Vladimir Putin and U.S. President Donald Trump. Peskov’s statement was carried by CCTV. No further details on the timing or agenda of any potential contact were given.

TREE NEWS reports: The Federal Reserve’s overnight reverse repurchase agreement (RRP) facility absorbed $4.375 billion on Friday, Oct. 30, from three counterparties, up from $353 million the previous trading day. The jump marks a sharp increase in usage of the central bank’s overnight liquidity-draining tool.

TREE NEWS update: European Commission President Ursula von der Leyen said the EU has reached agreement on Canada’s participation in a loan to support Ukraine. She added that the EU had hoped to discuss Canada’s full accession to the bloc but knew that was not possible. No loan amount or timeline was given.

TREE NEWS reports: The Nasdaq fell to a fresh intraday low, down about 3.5% on the day, after Blackstone told investors Anthropic may not receive an investment-grade rating immediately upon listing. US 10-year Treasury futures saw about 30,000 contracts trade in one minute, the session’s largest volume bar, consistent with buying; the contract rose from 106-14 to around 106-18, while the 10-year yield pared its gain to near flat.

TREE NEWS reports: US energy companies kept the number of active drilling rigs unchanged for a third consecutive week, oilfield services firm Baker Hughes reported. The flat reading extends a period of stability in US drilling activity. Baker Hughes did not specify the total number of rigs in the update.

TREE NEWS update: St. Louis Federal Reserve President Alberto Musalem said he is focused on preventing inflation from broadening. Musalem did not provide further details on the policy outlook or specific inflation measures in the remarks. The comment comes as markets watch Federal Reserve officials for signals on the path of interest rates.

TREE NEWS reports: The US oil rig count rose to 462 in the week ended October 30, up from 460 in the prior week. The two-rig increase marks a modest uptick in drilling activity. The count covers active oil-directed rigs in the United States.

TREE NEWS reports: International copper fell 1.07% in overnight trading, with Shanghai copper down 0.87%, Shanghai aluminum down 0.36%, Shanghai zinc down 1.16%, Shanghai lead down 0.4% and Shanghai nickel down 1.71%. Shanghai tin dropped 1.97%, the steepest decline in the session. Alumina bucked the trend with a 1% gain, aluminum alloy slipped 0.26% and stainless steel closed flat.

TREE NEWS reports: Dutch TTF benchmark natural gas futures rose 4.98% to 103.992 euros per megawatt-hour on Friday, bringing October gains to 43.21%. ICE UK natural gas futures climbed 5.46% to 256.490 pence per therm, up 38.85% for the month. ICE EU carbon allowance futures slipped 0.11% to 89.10 euros a tonne but still gained 4.72% in October.

TREE NEWS reports: US crude oil production rose by 19,000 barrels per day in August to 13.965 million bpd, up from a revised 13.946 million bpd in July, the Energy Information Administration said Friday in its monthly Petroleum Supply Monthly report. Total oil demand fell 2.9% year on year, or 618,000 bpd, to 20.595 million bpd. New Mexico set a monthly output record of 2.442 million bpd, up from 2.424 million bpd in July.

TREE NEWS reports: Tether reported $1.5 billion in net operating profit for the third quarter of 2026, flat versus the second quarter, bringing nine-month profit to $4.5 billion. Its reserves report, prepared by BDO, showed total assets of about $191.5 billion against liabilities of $183.5 billion as of Sept. 30, lifting excess reserves to roughly $7.955 billion from $4.1 billion at the end of Q2. Tether’s direct and indirect U.S. Treasury exposure reached $132.4 billion, while USDT in circulation held near $184 billion.

TREE NEWS reports: Reliance Industries, owned by billionaire Mukesh Ambani, reported a 40.6% surge in quarterly net profit, beating market expectations on strong energy and digital services performance. The group, which operates the world’s largest refining complex, processed record crude volumes in the quarter, sourcing from the Middle East and North America to limit the impact of Strait of Hormuz disruptions. Its digital arm Jio Platforms, which completed a large IPO earlier this week, posted 16.6% core profit growth.

TREE NEWS update: Canadian Prime Minister Mark Carney on Thursday called it a “historic day,” without further detail in the available remarks. The statement was made without additional context on the policy or event being referenced. No further specifics were immediately provided.