Sources say the Trump administration will assess whether to further loan out heating oil from reserves.

Japan's imports in FY2026 1H (Apr–Sep) reached a record 66.2753 trillion yen, up 20.4% YoY, driving a wider trade shortfall, Ministry of Finance data released on the 21st showed. Crude oil imports rose 26.3% to 5.7439 trillion yen as Japan sought alternative routes to avoid the Strait of Hormuz amid Middle East unrest, lifting import costs. Exports climbed 18.4% to 63.4569 trillion yen, the highest since 1979, led by semiconductors, electronic components and stronger US-bound auto shipments. The trade balance showed a deficit of 2.8184 trillion yen for Apr–Sep, the 11th consecutive half-year deficit and about double last year’s 1H shortfall.

Mortgage Bankers Association (MBA) US 30-year fixed mortgage rate for the week ended Oct. 16 was 7.41%, down from 7.50% the prior week.