Oil prices rose on the 1st. NYMEX November light sweet crude gained $2.45 to $92.87/bbl, up 2.71%. ICE Brent December added $4.28 to $102.31/bbl, up 4.37%.

In a Time magazine interview Trump said he may escalate military strikes on Iran after November’s U.S. midterm elections. He said the administration is struggling to find an exit to an eight-month U.S.-Iran conflict and accused Iran of delaying talks until after the midterms as Republicans fight to retain congressional control. Trump said he rejected an Iranian offer to reopen the Strait of Hormuz in exchange for U.S. concessions such as lifting port blockades or easing oil sanctions. When asked if he would resume bombing after the midterms he replied “possibly” and added “I can’t tell you…you’re asking where you would bomb.” He downplayed U.S. ammunition concerns, saying the U.S. has “a lot of weapons,” including lower-grade munitions.

High Council of Public Finance (HCFP) says France's public finances are "worrying" and the deficit target is already at its minimum.