WTI crude hit $90/bbl, up 2.24% intraday. Brent crude rose more than 2.8%.

Domestic News 1. Ministry of Commerce: Anti-subsidy and anti-dumping duties will continue to be levied on imported n-propanol originating from the United States. 2. Shanghai Stock Exchange holds a special symposium on mergers and acquisitions to gather market forces to help listed companies improve quality and efficiency. 3. Ministry of Commerce responds to expanding purchases of agricultural products from the US: Maintains an open attitude; reciprocal tariff reductions are a prerequisite. International News 1. Central Bank of Poland: Increased gold reserves by 28 tons in October. 2. Federal Reserve's Barkin: I think gradual interest rate hikes are reasonable. 3. Federal Reserve's Hamak: Monetary policy needs to shift to a restrictive stance. 4. Large oil refinery in Ryazan, Russia, suspected of being attacked; daily production capacity reaches 340,000 barrels. 5. Trump: Willing to cooperate with the Democrats; I have friends within the Democratic Party. 6. World Gold Council: Global gold ETFs continue to expand, with net inflows of $2.7 billion in October. 7. The Bank of England raised interest rates by 25 basis points to 4.00%, the first rate hike since August 2023, in line with market expectations. 8. US initial jobless claims for the week ending October 31 came in at 189,000, the lowest since the week ending July 18, compared to market expectations of 196,000. 9. Middle East Situation ① Iran denies allegations of intervention in Yemen. ② Iranian and Jordanian foreign ministers spoke by phone to discuss the regional situation. ③ Iran claims two oil tankers struck mines and caught fire in the Strait of Hormuz. ④ Russian President Vladimir Putin met with Iranian senior security official Mohsen Rezaei at the Kremlin. ⑤ Turkish diplomatic sources: Turkish and Iranian foreign ministers spoke by phone to discuss US-Iran negotiations and the regional situation. ⑥ Araghci spoke separately by phone with the Saudi and Qatari foreign ministers on Thursday evening to discuss regional developments and the latest diplomatic initiatives aimed at achieving regional stability.

At midday close China's main futures front-month contracts were mixed. Palladium rose over 8%, platinum over 7%, Shanghai silver nearly 6%, Shanghai nickel over 5%, Shanghai gold over 4%, red dates almost 4%, and coke and lithium carbonate rose more than 3%. On the downside, LPG, PET chip, propylene, benzene, polyethylene, polypropylene, mono‑ethylene glycol (MEG) and styrene hit the daily down limit; fuel oil and low‑sulfur fuel oil (LU) fell over 10%, asphalt nearly 9%, INE crude (SC) and methanol over 7%, and p‑xylene over 6%.