The preliminary reading of the University of Michigan Current Conditions Index for November was 52.3, below the expected 59.2 and the previous reading of 58.6.

According to the General Administration of Customs, China's crude oil imports in October totaled 48.357 million tons, compared to 47.252 million tons in September.

Energy 1. India's Reliance Industries has announced a rare Middle East oil sales plan. 2. Japan plans to purchase LNG monthly for emergency reserves to strengthen supply security. 3. ExxonMobil signed an agreement to explore for natural gas off the coast of Greece. 4. Trump will meet with Hungarian Prime Minister Viktor Orbán to discuss Russian oil and economic cooperation. 5. Swiss commodity trader Gunvor announced it has withdrawn its proposal to acquire overseas assets of Russian energy company Lukoil. This followed the US Treasury Department's labeling of Gunvor as a Russian "puppet" and hinting at US opposition to the deal. 6. Russia's October oil and gas revenues fell more than 26% year-on-year, but rose 52.6% compared to the previous month, mainly due to the additional profit tax levied quarterly. 7. EIA Natural Gas Report: As of the week ending October 31, total U.S. natural gas inventories stood at 3.915 trillion cubic feet, an increase of 33 billion cubic feet from the previous week, and a decrease of 6 billion cubic feet from the same period last year, a year-on-year decrease of 0.2%. This is 162 billion cubic feet higher than the 5-year average, an increase of 4.3%. Other: 1. Trump: No new tariffs will be announced during the Supreme Court's hearing on the tariff case. 2. State Street Global Advisors: Raised its benchmark gold price forecast to $3700-$4100. 3. German Chancellor Merz: Germany supports the EU's tariff plan to protect the steel industry. 4. German Finance Minister Klingbeer: Europe must immediately stop importing Russian steel. 5. Maersk CEO: It is too early to judge when we can safely pass through the Red Sea. 6. World Gold Council: In October, global gold ETFs saw net inflows for the fifth consecutive month, attracting $8.2 billion, with daily trading volume reaching a record high. 7. The Trump administration on Thursday added 10 minerals to its list of minerals critical to the U.S. economy and national security, bringing the total to 60. These include copper, which is essential for electric vehicles, the power grid, and data centers, as well as metallurgical coal, a coke fuel used in steelmaking.