Prudential CFO says sale processes for its Mexico and Brazil businesses are progressing smoothly.

At the close, NYMEX October light sweet crude rose $4.44 to settle at $105.83/bbl, a 4.38% gain. ICE Brent November rose $3.07 to settle at $108.75/bbl, up 2.9%.

Indonesia issued a ministerial regulation effective Friday revising the mineral benchmark price (HPM) formula to cut the minimum payable for low‑grade nickel ore. Under the new HPM, the cost of 1.2% nickel ore is roughly halved, easing margins for local processors and HPAL plants that refine low‑grade ore into EV‑battery chemicals. HPAL operators had been squeezed after sulphur reagent prices surged following the U.S.‑Iran conflict, forcing some to consider coordinated cutbacks. Large new HPAL capacity due this year and next could add downward pressure to nickel prices, which hit a year‑to‑date low on Wednesday; HPAL output—mixed hydroxide precipitate—can be converted into LME‑storable refined nickel.