Economic news moving markets.

Saudi Arabia’s oil production falls to all-time low as shipments rebound

Saudi Arabia's crude exports rose 7.9% in August to 4.451 million barrels per day, a five-month high, even as the kingdom's oil production dropped to an unprecedented 6.24 million bpd, JODI data show.

Brent crude jumps above $111 after Houthi strikes on Saudi Arabia

Brent crude rose about 2% to $111.10 a barrel and WTI climbed to $98.98 after Yemen's Houthis hit a Saudi oil field and an airport, deepening concerns over Middle East supply.

Bank of Russia gold stockpile shrinks to 2,264 tonnes after September sale

Moscow's central bank offloaded 200,000 troy ounces of gold last month, pushing national reserves down to their smallest size since 2019 and pointing to ongoing budget pressure.

Indian Oil Corp to trim Middle East term crude share for 2027/28

Indian Oil Corporation (IOC) plans to slightly cut the share of Middle East crude it books under annual term contracts for the fiscal year starting next March, down from an initial plan of 47%, a source familiar with the matter said.

Oman-Dubai crude premium falls to $4.22 as Gulf oil flows recover

The premium of Oman crude over Dubai, a key gauge of Middle East supply strength, has dropped to $4.22 a barrel, its lowest since late July, as tanker flows through the Strait of Hormuz rebound.

Japan’s trade deficit nearly doubles to $17.8 billion on energy costs

Japan posted a trade deficit of $17.8 billion for April to September, almost double the shortfall a year earlier, as the closure of the Strait of Hormuz pushed up the cost of oil and gas imports.

GM plans wider hybrid rollout as US pump prices stay near $4.28

General Motors chief executive Mary Barra said the company will roll out hybrid models across new vehicle categories as US gasoline prices hover around $4.28 a gallon, compared with $3.04 a year ago.

EIA data show US crude stocks drop 3.06 million barrels, topping forecasts

The Energy Information Administration said US commercial crude inventories declined by 3.06 million barrels in the week ended October 16, far exceeding the 0.82-million-barrel drop analysts had penciled in, leaving stocks at 412.5 million barrels.

French 10-year bond yield tops 5% for first time since 2002

France's 10-year OAT yield has pushed above 5%, a level unseen since 2002, as political deadlock and street unrest deepen doubts over Paris's ability to control its budget.

French 10-year bond yield tops 5% for first time since 2002

France's 10-year OAT yield has broken above 5%, a level last seen in 2002, as debt worries and street unrest shake confidence in the government's finances. The move widened the gap with German Bunds and pulled US Treasury yields lower on safe-haven buying.

Jackdaw gas field cleared for production in first North Sea approval since Hormuz crisis

UK regulators have granted production consent for the Jackdaw gas field, marking the first North Sea project approved since tensions tied to the Iran conflict and the Strait of Hormuz closure drove energy prices higher.

Goldman Sachs: tanker rates surge could push Brent above $90 forecast

Global oil freight costs have jumped to about $20 a barrel from $3 a barrel a year ago, Goldman Sachs says, warning that elevated shipping costs tied to the Iran conflict and Hormuz tensions add upside risk to its $90 Brent forecast for year-end.

UK inflation accelerates to 3.5% in September, boosting BoE hike odds

Annual UK consumer price growth climbed to 3.5% in September from 3.1% in August, beating forecasts and reinforcing market expectations that the Bank of England will tighten policy next month, lifting sterling.

Russia to ship first diesel cargo to US on October 22, Novak says

Russian Deputy Prime Minister Alexander Novak said Moscow will send its first diesel cargo to the United States on October 22 and may fully restore diesel exports by year-end.

China’s offshore trust tax deadline on Oct 22 tightens grip on capital outflows

China's grace period for disclosing and settling tax liabilities on offshore trusts ends October 22, a move that underscores Beijing's push to rein in capital leaving the country. The deadline coincides with tighter rules on crypto and stablecoins.

China’s GDP growth edges up to 4.5% in third quarter of 2026

China's economy grew 4.5% year-on-year in the third quarter of 2026, slightly faster than the second quarter's 4.3%, the National Bureau of Statistics (NBS) reported. Growth for the first three quarters of the year averaged 4.6%.

UK inflation climbs to 3.5% in September on fuel price surge

Britain's annual inflation rate rose to 3.5% in September, exceeding the 3.4% median forecast from economists polled by Reuters, as petrol and diesel prices jumped sharply. The upside surprise strengthens the case for a Bank of England rate hike next month.

French yield surge revives old fears over bank-sovereign debt links

A sharp rise in euro zone government borrowing costs, driven mainly by France, has rekindled investor worries about how closely lenders are tied to their home governments' finances. European bank shares have slid about 10% in six weeks.

BOJ’s Himino says inflation nearly at 2% target, flags upside risks

Bank of Japan Deputy Governor Ryozo Himino said underlying inflation is close to the central bank's 2% goal and warned that delaying policy changes could let price risks build and hurt the economy. The comments touch USD/JPY.

India’s 10-year yield climbs to 7.44% as Brent nears $112

India's benchmark bond yield rose to its highest since March 2023 after Brent crude approached $112 a barrel, reviving inflation worries. Traders now await the Reserve Bank of India's policy minutes.