Tanker freight fell 9 percent while gold miners jumped 4.34 percent, a split tape of softening physical trade and a hardening haven bid.
Tanker freight fell 9.0 percent, the largest move in the tables. This morning’s reporting offers no clear single driver for the index fall, and it cuts against the spot market reporting in today’s oil shipping story, where fixture and insurance costs on the riskiest routes are spiking; the split is itself the story of a freight market fragmenting by route and risk (see today’s oil shipping costs story).
Gold miners rose 4.34 percent and silver miners rose 3.48 percent, the equity confirmation of the precious metals bid in today’s commodities edition. Gold settled above 4,200 dollars an ounce on the haven trade, and Hecla’s record silver quarter, in today’s mining edition, gave the silver names a company level reason to run.
Dry bulk freight fell 2.62 percent, down 15.4 percent on the week. No clear single driver appears in this morning’s reporting; the move extends a week long slide in bulk rates that sits oddly against the week’s mining financing decisions, which were all made on long term cost curves rather than spot freight.
WTI crude fell 1.99 percent to 96.02 dollars a barrel. Today’s reporting explains the direction: supply workarounds keep arriving, with Aramco offering extra spot cargoes to Europe in this morning’s watcher story and India cutting its diesel export tax, while demand destruction caps every war premium rally (see today’s Aramco and India diesel stories).
The US 10 year Treasury yield fell 10.1 basis points to 5.09 percent, and the 5 year fell 9.3 basis points to 4.90 percent. The long end led rally is covered in today’s rates edition: duration buyers treated post inflation levels as value, helped by Eurostat confirming euro area inflation at 3.8 percent with core easing to 2.4 percent, and by the Federal Reserve chair’s closing remarks in Bangkok.
Silver rose 1.91 percent to 57.92 dollars an ounce, extending the precious complex’s run even after a soft week, with the producers’ results in today’s mining edition supplying the fundamental echo.
The cross market read is a barbell. At one end, the haven and duration trades are bid together, gold up, miners up more, Treasury yields down 10 basis points, the dollar softer. At the other, the physical economy’s prices are easing, oil down, freight down hard, bulk down for a fifth straight week on the weekly measure. Markets are pricing safety as scarce and stuff as plentiful, and this morning’s reporting, from TSMC’s guidance raise to the Pilgangoora expansion, says the real economy is still spending through the split.
The International Energy Agency has published a major assessment on modernising grids in the age of electricity, arguing that networks, not generation, are now the binding constraint on the energy transition.
AEP will buy up to 1.6 gigawatts of linear generators, China achieved the world's first ship to ship green ammonia bunkering at Zhoushan, and the phosphine poisoning incident that killed 13 bulk carrier crew led the safety file.
Chicago is positioning as a lithium trading and processing hub, a new soybean biofuel plant under the Parane name advances in South America, and California diesel prices remain above 8 dollars a gallon as truckers seek relief.
Chinese buyers will pay for some Zambian copper in yuan from next year, starting with Chinese mining producers that already pay Zambian taxes in yuan, the Bank of Zambia governor said.
US commercial crude inventories fell 8.6 million barrels in the week ending October 9 to 415.6 million barrels, while distillate stocks fell 2.5 million barrels to 12 percent below the five year average.
South Korea will rely more on coal and nuclear power this winter to cut LNG use, its climate and energy minister said, as spot LNG prices make gas fired generation uneconomical.
A US to Japan supertanker voyage that averaged 9.1 million dollars last year will cost 81 million dollars in late November, or 40.50 dollars a barrel in freight alone.
Kenya's 2026/27 maize production forecast has been cut 51 percent to 2.2 million tonnes after June and July rainfall fell to the lowest since 1980, the USDA Foreign Agricultural Service reported.
Ghana's crude oil production has risen about 30 percent after five years of decline, its energy minister said, following a 2 billion dollar agreement with the Jubilee field partners.
European benchmark gas traded at 86.03 euros per megawatt hour on Thursday, its highest since December 2022, with EU storage only 74 percent full against a five year average near 86 percent.
Britain's latest package brings more than 90 percent of Russian oil production capacity under UK sanctions, adding two oil companies, 12 shadow fleet tankers and crypto and payment networks.
Bolivia is scrapping the central bank certificate required to ship gold and ending central bank gold purchases, requiring exporters instead to deposit at least 80 percent of proceeds in Bolivian banks.
Valterra Platinum has deferred the decision on expanding underground mining at Mogalakwena, the world's largest open pit platinum mine in South Africa's Bushveld, until its FY2027 planning round.
Northam Platinum signed a long term solar power deal worth about 645 million dollars, Richemont and Signet weighed joining a consortium bid for De Beers, and Anglo American said technology giants are circling its copper assets.
Lithium Americas has drawn the first advance under its 2.23 billion dollar US Department of Energy ATVM loan for the Thacker Pass lithium project in Nevada, which targets 40,000 tonnes a year of lithium carbonate in phase one.
Hecla Mining set a company record for quarterly silver production in the third quarter, led by the Greens Creek mine in Alaska, its largest and lowest cost operation.
Equinox Gold produced 234,400 ounces of gold in the third quarter, up 34 percent year on year and 17 percent on the second quarter, with a record quarter at Greenstone in Ontario.
BHP has sued the union at its Spence copper mine in Chile, seeking compensation over two stoppages it says were illegal, days after settling the Escondida supervisors' dispute that had threatened a strike at the world's largest copper mine.
Antofagasta reported third quarter copper production of 174,300 tonnes, up 7 percent year on year, and backed its 2026 forecast, but its shares fell as the 2027 outlook disappointed.
Zimbabwe's gold deliveries to Fidelity Gold Refinery reached 35.88 tonnes by the end of September, putting the 50 tonne annual target within reach after a record third quarter.
Anglo American has held talks with technology companies interested in buying equity stakes to secure copper supply, chief executive Duncan Wanblad told the Financial Times summit in London.
South Africa recorded 53 mine deaths by October 12, already above the full year totals of 41 in 2025 and 42 in 2024, prompting an industry safety review.
Projected supply will meet only 68 percent of lithium demand and 75 percent of copper demand in 2035, according to GEM Mining Consulting, with processing concentration a bigger risk than mine output for graphite and rare earths.
Minnova has outlined a 53.4 million dollar plan to restart Manitoba's PL gold mine by 2028, producing an average of 62,200 ounces a year over ten years.
Gold miners rose 4.34 percent and silver miners 3.48 percent in the latest session, reversing the previous day's broad selloff as gold and copper prices recovered.
Copper fell for a third day on Thursday to a ten day low, and the Comex premium over London narrowed to 49 dollars a tonne, implying roughly 2 percent odds of the January tariff landing on schedule.
Cedro Participações has won the integrated environmental licence for Porto do Meio, a 3.6 billion real iron ore terminal at Itaguaí with an initial capacity of 15 million tonnes a year.
A new study values Bonterra's Barry gold project in Quebec at 665 million Canadian dollars after tax, up from 48.3 million in 2022, on an expanded plan and a 3,500 dollar gold price.
The Africa Finance Corporation is looking to add iron ore and uranium investments to its mining portfolio, and expects to announce deals within 6 to 12 months.
CoreWeave Inc's bond, CUSIP 21873SAD0, printed at 78.3419 at 10:27:28 ET on 2026-10-16, down from a previous print of 81.2699 and 15.89 points below its latest fund mark.
CoreWeave Inc's bond, CUSIP U2069EAB6, printed at 84.105 at 07:18:01 ET on 2026-10-16, up from a previous print of 81.88 and 15.18 points below its latest fund mark.
A Turner joint venture broke ground on an AdventHealth hospital in Colorado, Buenavista took 71 percent of Spanish trauma care group Tiryaq, and Berkshire Hathaway added 330 million dollars to its stake in tech group Bending Spoons.
Icon, the Austin based construction 3D printing company, has raised 200 million dollars in new funding to scale its robotic building systems for housing and infrastructure.
The UK Competition and Markets Authority has opened merger inquiries covering three separate paths to control of the Telegraph Media Group, by Daily Mail and General Trust, by RedBird IMI and by the RB Investco structure, publishing its jurisdiction and competition research for each.
Blackstone has agreed to sell ZO Skin Health, the physician dispensed skincare brand, to Switzerland's Galderma for an enterprise value of 1.5 billion dollars in an all cash deal, on a business with about 330 million dollars of revenue.
ArchiMed, the transatlantic healthcare specialist, has set out deployment plans for its 1.75 billion euro fund, saying artificial intelligence is reshaping how it underwrites healthcare deals.
Apax Partners has agreed to acquire Warburg Pincus's stake in Odido, the Dutch mobile operator formerly known as T-Mobile Netherlands, consolidating the sponsor ownership of one of Europe's largest challenger carriers.
Vodacom will keep its 55 percent stake in Safaricom after Kenya's Court of Appeal ordered the position preserved pending an appeal against a High Court ruling that voided the government's share sale.
Vista Equity Partners has agreed to acquire the public key infrastructure business of HID Global, the ASSA ABLOY identity unit, PE Hub reported in an exclusive on Friday, with terms not disclosed.
Culture Secretary Lisa Nandy has told Sky and ITV she is minded to intervene in Sky's 1.6 billion pound acquisition of ITV's media and entertainment business on media plurality grounds, giving the companies until October 20 to respond.
Transocean has expanded its revolving credit facility to 750 million dollars and extended it to 2031 as its 5.8 billion dollar all-stock takeover of Valaris clears its final regulatory hurdle in Brazil.
Thames Water has asked creditors to raise its emergency funding facility by 2.4 billion pounds to 5.4 billion pounds, saying the increase would keep it liquid into autumn 2027.
International Seaways has agreed to acquire Oslo-listed VLCC owner Bruton in transactions valuing the company at about 370 million dollars, adding four supertankers to its fleet of roughly 70 vessels.
AnyCard, Lifestyle and Savvy have agreed to combine as Norell, a gift card and incentives group with more than 100 million pounds of combined revenue, backed by new investment from Codex Capital.
Carlyle has bought a 7.7 billion dollar portfolio of consumer loans from Truist Financial, Bloomberg reported on Friday, as the bank's new leadership keeps selling loan books that no longer fit its strategy.
Ara Partners' infrastructure strategy has acquired a majority interest in Pacific Ag, North America's largest crop residue supply and logistics company, for undisclosed terms.
Abry Partners has completed the sale of netnumber, the phone number intelligence and registry services provider it built as a standalone platform from 2022, to Transaction Network Services, for undisclosed terms.
26North Partners has signed a definitive agreement to acquire MEI Industrial Solutions from Olympus Partners, taking over a 2,500-employee equipment installation business with 30 locations and 10 million square feet of industrial storage.
The World Trade Organization and multilateral partners have reviewed progress on their supply chain finance initiative, aimed at closing the trade finance gap for smaller exporters in developing economies.
Chancellor Rachel Reeves said in Washington that it is her job to protect the resilience of the UK economy and that the forthcoming budget will do that, framing the autumn statement around international headwinds.
The US Treasury and the IRS have announced action to protect health care benefits for eligible Americans, publishing guidance in the Federal Register's October 16 edition.
The Commission marked the International Day for the Eradication of Poverty, awarded the 2026 New European Bauhaus prizes, and published the Federal Register's October 16 edition in Washington, while Japan's finance ministry ran its bill auctions.
The European Commission has announced the rescheduling of the EU GCC summit, pushing back the bloc's set piece meeting with the Gulf states, the European Commission said in a statement.
Mayors from across Europe met EU leaders in Brussels on Friday to advance affordable energy and climate resilience for cities, the Covenant of Mayors office said, taking the energy price argument directly into the summit building.
The European Commission has adopted a new strategy on combating trafficking in human beings, updating the bloc's framework against a crime the Commission links to organised networks and online recruitment.
The European Commission has launched the RAISE pledging initiative to boost AI support for researchers across Europe, seeking commitments to pool compute and funding for scientific AI.
The UK government will fund critical repairs to the Chornobyl nuclear power plant, whose confinement structure was damaged by a Russian drone attack, HM Treasury announced.
Treasury Secretary Scott Bessent used his statement to the IMF's steering committee in Bangkok to press the US case on imbalances and multilateral reform, on the week the G20 met without him and the fund's meetings were dominated by the energy shock.
Ukraine's parliament passed a package of laws on Thursday advancing EU and IMF conditions, including a tax on foreign parcels and tighter e-commerce and financial monitoring rules, to unlock billions in foreign assistance.
Somalia's electoral commission has set parliamentary elections for April 15, 2027 and a presidential election for May 15, 2027, a timetable the government welcomed and the opposition rejected as imposed without a political settlement.
Russian disinformation operators are using an army of bots to inflate the reach of fabricated celebrity videos attacking Democratic candidates ahead of the US midterm elections, Bloomberg reported, in work researchers attribute to the Matryoshka operation.
Malaysia has pledged to help reintegrate Myanmar into ASEAN after hosting its president Min Aung Hlaing with a red carpet welcome, the fifth ASEAN capital to receive the former coup leader since he took the presidency in April.
The Senate Leadership Fund reported its biggest ever quarterly fundraising total, 273 million dollars, after Elon Musk gave the Republican Senate super PAC 158 million dollars, and it holds more than 155 million dollars in cash for the final weeks before the midterms.
The FBI and the US Postal Inspection Service are investigating suspicious mailings, some containing an unknown substance, sent to state election officials and lawmakers' offices less than three weeks before the November 3 midterm elections.
Multiple delegations walked out of the CICA summit in Baku on Thursday as Israeli President Isaac Herzog addressed the hall, in a protest Iran used to demand Israel's expulsion from the Asian security forum.
Prime Minister Mark Carney told a pro Canada rally in Calgary that outside forces are working to break Canada so they can own it, as Alberta prepares to vote on Monday on whether to begin a legal process toward separation.
The UK Debt Management Office announced a 225 million pound tap of the 0.375 percent index linked Treasury gilt 2040 for November 10, alongside continued heavy conventional issuance including the 4.75 billion pound 4.25 percent 2036 line.
The Central Bank of Turkey's gross reserves rose by 11.6 billion dollars in the latest weekly data, one of the largest weekly increases of the year.
US Treasury yields fell across the curve in the latest session, the 10 year down 10.1 basis points to 5.09 percent and the 30 year down 9.6 basis points to 5.43 percent, unwinding part of the post inflation steepening.
The central bank governors of China, Japan and South Korea held their fifteenth tripartite meeting in Bangkok, South Africa's move from JIBAR to a new benchmark continued, and Brazil's August retail sales rose just 0.1 percent.
Poland's finance ministry sold 8.65 billion zloty of bonds at its latest auction, inside the 6 to 11 billion zloty offer range, against total demand of 10.61 billion zloty.
Malaysian government bond issuance reached RM155 billion for 2026 to date, with RM10 billion issued in October and RM1.359 trillion outstanding, Bank Negara data show, as third quarter GDP growth slowed to 5.3 percent.
Hungary's central bank held its base rate steady for a thirteenth consecutive month, with September inflation at 7.9 percent keeping the region's highest policy rate in place and the forint firming 0.4 percent on the day.
Federal Reserve chair Kevin Warsh told the IMF and World Bank annual meetings in Bangkok on Friday that he does not prejudge meetings, declining to signal whether further rate hikes are needed after September inflation and producer prices both came in hot.
Nigeria's headline inflation eased to 14.63 percent on the year in September, from 15.39 percent in August, the National Bureau of Statistics said, while food inflation edged up to 19.59 percent and core inflation slowed to 12.95 percent.
Japan sold treasury discount bills at a weighted average yield of 1.2803 percent on Friday, drawing 10,869.1 billion yen of competitive bids for 2,529.1 billion yen accepted, a cover of about 4.3 times.
India sold 34,000 crore rupees of the 6.94 percent government stock maturing in 2036 at a cutoff yield of 7.3955 percent on Friday, drawing competitive bids of 94,072 crore rupees, about 2.8 times the amount on offer, with no devolvement on primary dealers.
The Federal Reserve's seventh Beige Book of the year found economic activity mixed across the 12 districts, with two reporting moderate growth, three modest, four slight and three no significant change, and most districts reporting little or no change in consumer spending.
Bank of England governor Andrew Bailey said in Bangkok on Friday that evidence of the energy shock spreading into wider British prices has so far been quite subdued, while calling the overshoot of the 2 percent target enormously frustrating.
Proofpoint, the cybersecurity company owned by Thoma Bravo, has agreed to buy data security firm Varonis Systems in an all cash deal valued at about 6.3 billion dollars, at 49.75 dollars a share.
Uruguay's government has partnered with Solaria on up to 500 megawatts of data centre capacity, the UK rejected an AI Growth Zone bid tied to the Drax biomass plant, and CapitaLand will open a 53 megawatt Chennai data centre this year.
SK hynix is preparing a US listing through American depositary receipts that could raise up to 27 billion dollars, which would make it the largest ever US listing by a South Korean company.
SanDisk and Kioxia have extended their NAND flash manufacturing joint venture agreements, renewing the partnership that runs the Yokkaichi and Kitakami plants in Japan.
Samsung is pursuing about 4.7 billion dollars in tax incentives tied to its semiconductor operations and expansion in the Austin, Texas area, local filings and reporting show.
The US Department of Energy has issued a conditional loan commitment of about 900 million dollars to Orano Enrichment USA to support its planned uranium enrichment plant at Oak Ridge, Tennessee.
Indosat Ooredoo Hutchison and Google Cloud have expanded their partnership on AI and data centre services in Indonesia, targeting sovereign cloud and enterprise AI demand in Southeast Asia's largest economy.
Greece is drafting legislation that would require data centers to source 60 percent of their power from renewables, one of the strictest green power mandates proposed for the sector in Europe.
Evolution Equity Partners has raised a 950 million dollar fund to invest in cybersecurity and AI security companies, one of the largest dedicated vehicles of the year in the sector.
Core Scientific has expanded its high density colocation agreement with CoreWeave, taking the total contracted value of their hosting relationship above 1.1 billion dollars over its term.
Applied Digital reported a quarterly net loss of 187.5 million dollars, and its shares fell by roughly a quarter in extended trading as investors weighed the cost of its data centre buildout.
Anthropic is establishing an engineering presence in Taiwan, hiring for roles that put the AI lab inside the island's semiconductor talent ecosystem.
The UK government has rejected an AI Growth Zone bid to build a 1.2GW data centre powered by the Drax biomass plant in North Yorkshire, and Drax has pivoted to a smaller 100MW grid powered project.
Tesla revealed its redesigned second generation Roadster with SpaceX cold gas thrusters outside Waco, Texas, said it will build the car in 2028, and is taking reservations of 50,000 dollars and 250,000 dollars by trim.
Global smartphone shipments fell 20 to 22 percent year on year in the third quarter to about 255 million units, IDC and Omdia estimate, as memory costs up about 350 percent in a year priced out budget handsets.
Oracle has asked the Federal Energy Regulatory Commission to expedite approval of a 17.8 mile gas pipeline for its 2.5GW Project Jupiter campus in New Mexico, Bloomberg reported, after state regulators rejected an earlier pipeline plan in July.
OpenAI told a court that a former employee who returned to Apple took more than 100 confidential files on its unreleased hardware, and asked for time to investigate possible counterclaims in Apple's trade secrets suit.
Nvidia's AI accelerator shipments in China fell 44 percent year over year in the first half of 2026, leaving it 34 percent of the data centre accelerator market by units against Huawei's 28 percent, IDC data reported by Reuters show.
Meta has released Muse Spark Open, an open weight model with 816 billion parameters and a 1 million token context window, designed to run locally on high end Apple Macs.
DigiCo Infrastructure REIT has signed a 15 year contract for 71MW at its SYD1 facility in Sydney with an unnamed global technology firm, taking the 88MW site to 100 percent leased.
Citizen Lab researchers say spyware makers Candiru and Bindecy used an advertising platform called Controlium to deliver zero click spyware, with at least 45 Windows computers at Al Jazeera infected in 2024 and 2025.
Nvidia fell 1.84 percent to 217.23 dollars in the latest session and the semiconductors basket fell 0.91 percent, a smaller decline that leaves the basket down 8.62 percent on the week after Thursday's rout.
CapitaLand will complete its Chennai 01 data centre by the end of 2026, delivering 53MW of gross power and 34MW of IT capacity across 13 halls for about 1,940 crore rupees.
Anthropic is giving six researchers from the nonprofit evaluator METR employee level access, with company laptops, office space and internal tools, to assess its models, safety practices and risk management independently.
Sana Biotechnology has filed to sell up to 25 million dollars of stock through an at the market programme with BofA Securities as sole sales agent, and its shares fell about 10.7 percent on the news.
OMass Therapeutics has collected 310 million dollars in financing, in two tranches of 160 million and 150 million dollars, to advance its drug for congenital adrenal hyperplasia against Neurocrine and Vertex.
Liquidia has submitted a European marketing application for its inhaled treprostinil powder YUTREPIA and won FDA acceptance of a supplemental application for an additional pulmonary hypertension indication, with an action date of February 16, 2027.
A new company backed by Paul Stoffels has licensed Galapagos's cell therapy research, Endpoints tallied 1.6 billion dollars of deals in a day, and former FDA commissioners publicly criticised current health leadership.
Iambic Therapeutics, fresh from a 150 million dollar IPO, has signed an oncology collaboration with Kite, Gilead's cell therapy unit, pairing its AI driven discovery platform with Kite's development and manufacturing machine.
The US Food and Drug Administration has revoked the emergency use authorisation for Pfizer and BioNTech's Comirnaty COVID vaccine in children from six months to four years, at the companies' request and with no safety concern identified.
The European Medicines Agency's CHMP adopted 21 opinions at its October 12 to 15 meeting, six new medicines, nine extensions of indication and six generics, including the Foundayo oral GLP-1 recommendation published here this morning.
CVS Health will pay 315 million dollars to settle federal allegations over its opioid prescribing and dispensing practices, adding another chapter to the pharmacy chain's long legal tail from the epidemic.
Vanda Pharmaceuticals' VQW-765 missed its phase 3 primary endpoint in social anxiety disorder, with distress scores of 65.6 on drug versus 66.0 on placebo in women, a difference with a p value of 0.8899.
Osivax's OVX836 flu vaccine showed 24 percent efficacy in a 2,850 person phase 2b trial, missing its prespecified 50 percent target and lacking statistical significance.
Merck and Moderna are preparing to file their personalised mRNA cancer vaccine for approval after its phase 3 melanoma win, and are now prioritising which other tumours to chase with Keytruda.
The Department of Health and Human Services has sent an interim access policy for compounded peptides, including BPC-157, to the White House for review, a market analysts estimate at 2 billion to 3 billion dollars.
Estuary Biotherapeutics launched with a 93 million dollar Series A to develop one time gene therapies for autosomal dominant polycystic kidney disease, the most common inherited kidney disorder.
The EMA's CHMP recommended six new medicines at its October 12 to 15 meeting, including Yuviwel for achondroplasia in children and Kizfizo for glioblastoma, alongside two biosimilars.
AstraZeneca will pay insitro 40 million dollars upfront, with up to about 1.46 billion dollars in milestones, to use AI to find targets in MASH and cardiomyopathies.
Lakefront Biotherapeutics, formerly Galapagos, is selling its armed CAR-T cell therapy programs to Paul Stoffels' Armed Cell Therapeutics for 8 million euros upfront and up to 230 million dollars more.
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