Energy:
1. The Trump administration took advantage of low oil prices to replenish 1 million barrels of its Strategic Petroleum Reserve.
2. Norway's preliminary oil production for September was 1.82 million barrels per day. Norway's preliminary natural gas production for September reached 8.5 billion cubic meters.
3. Hungarian Oil and Gas Company MOL: Hungary's fuel supply is secure.
4. Iraqi Ministry of Foreign Affairs: Iraq and Turkmenistan signed a memorandum of understanding on cooperation in natural gas imports.
5. Japanese Prime Minister Sanae Takaichi: Hopes to reduce diesel taxes by April.
6. Malaysia's Petronas: Signed a memorandum of understanding to jointly promote oil and gas exploration and production cooperation in the Middle East and Southeast Asia.
7. Citigroup: Maintains its forecast for an average Brent crude oil price of approximately $60 per barrel in the first quarter of 2026.
8. Russian Energy Minister: Russia's Orenburg gas plant has resumed receiving natural gas from the Karachaganak field in Kazakhstan.
Precious Metals and Mining:
1.
Citigroup has turned bearish on gold prices, predicting a drop to $4,000 within the next three months. It maintains a medium-term bullish outlook on copper and aluminum prices, forecasting copper prices to rise to $12,000 per ton over the next six to 12 months and aluminum prices to $3,500 per ton by 2027.
2. The London Bullion Market Association called on the UK to restart its gold futures contract program.
3. Domestic gold jewelry prices fell significantly compared to yesterday, with Laomiao pure gold falling by 83 yuan per gram.
4. The Governor of the Hungarian Central Bank stated: "There is no need to increase already high gold reserves."
5. The US government reportedly intervened in negotiations to support US companies in acquiring tungsten mine development rights in Kazakhstan.
6. Japan's crude steel production fell 3.9% in September from August to 6.38 million tons. Japan's crude steel production fell 3.7% year-on-year in September. 7. Canadian mining company Teck Resources: Copper production in the third quarter was 104,100 tons, compared with 114,500 tons last year.
