top stories of 18 October

every morning: the most covered market stories of the past day. by email, on telegram and here.

1. Refinery Bottlenecks, Not Just Mideast Supply, Drive US Pump Prices Higher

   According to Barron's, published via TradingView, US oil price gains stem from refining shortfalls that strain household budgets and could slow growth.

   Futures — 1 source

2. Bank of Canada expects sharply higher inflation as oil prices surge

   Governor Tiff Macklem said the bank will significantly raise its quarterly inflation forecast due to high oil and fuel prices. The rate decision is due October 28.

   Economy · Fiscal Budget · Monetary Policy · Inflation — 1 source

3. Fed may raise rates again even if it holds in October, analysts say

   US inflation accelerated and analysts now expect a December rate hike. CME FedWatch puts an 83% chance on an unchanged rate at the October meeting.

   Economy · Monetary Policy · Inflation — 1 source

4. Trump waives Russia energy tariffs and sanctions as crude hits five-month high

   Trump waived new Russia sanctions and tariffs under the Graham Act, while WTI and Brent rose to multi-month highs, per Stocktwits.

   Economy · Futures · Inflation · Trade Balance — 1 source

5. China's September diesel exports more than triple amid Iran war

   China's refined fuel exports rose 39.4% year-on-year in September, while diesel shipments hit their highest since February 2023, customs data showed on Sunday.

   Futures · Trade Balance — 1 source

6. HDFC Bank profit rises 4.7% as margin pressure weighs

   HDFC Bank's second-quarter profit rose 4.7% as net interest margin slipped to 3.16%, while loan and deposit growth accelerated and a new CEO takes over.

   Earnings · Stock · India — 1 source

7. Rubio: Trump may take up to 60 days to decide on Russia sanctions

   Rubio says the US president may need up to 60 days to assess Russia sanctions and tariffs he paused, as the Iran war strains energy supplies and fuel prices.

   Economy · Inflation · Trade Balance — 1 source

8. Former DRC president Joseph Kabila joins rebel coalition against Tshisekedi

   Ex-president Kabila now leads the FRN coalition, which replaces the AFC and M23 and calls for resistance by force. Peace talks face a new setback.

   Africa · Politics · War — 1 source

9. Reliance to discuss Texas refinery with US officials; Jio IPO size cut 14%

   US Secretary of State meets Reliance in Jamnagar on the Brownsville refinery, part of a $300B partnership; Jio Platforms IPO size cut about 14%.

   Stock · India — 1 source

10. Venezuela sees almost $76 bn of oil spending over five years, Rodriguez says

    Venezuela's acting president Delcy Rodriguez cites about $76 billion of planned oil investment over five years, including a US accord on 17 fields.

    Energy · Oil · Business Investment — 1 source

get it by email →