Bank of America settles with OFAC for $11.66 million
The US Treasury Department said Bank of America settled with OFAC for $11.66 million.
Market Context archive
MMA reports 30% of US Gulf oil production shut in
MMA reported that 604,503 barrels per day, or 30% of US Gulf oil production, was shut in.
Novak says first Russian diesel export shipments are underway
TASS reports that Russian Deputy Prime Minister Alexander Novak said the first Russian diesel export shipments are underway.
FT: US threatens to block weapons for Ukraine over assaults on Russian refineries
The Financial Times reports that the US is threatening to block weapons for Ukraine over Ukrainian assaults on Russian refineries.
US FY 2026 gross debt interest reached record $1.36 trillion
The US Treasury reported gross interest on US debt totaled a record $1.36 trillion in FY 2026, up $144 billion, or 12%, from the prior year.
State Street EPS tops expectations
State Street (STT) reported earnings per share of USD 3.69, above market expectations of USD 3.41.
Workers at the world’s biggest copper mine threaten imminent strike action
Workers at the world’s biggest copper mine threatened imminent strike action.
Yemen’s Houthis say operations targeting airports and oil facilities will continue
Yemen’s Houthis said operations targeting airports and oil facilities would continue in the following days.
PNC reports EPS of $5.09, above $4.93 market expectations
PNC reported earnings per share of 5.09 USD, compared with market expectations of 4.93 USD.
FAO October Outlook Forecasts 2026/27 Global Rice Production 2.4% Below Prior Season’s Record
The FAO’s October outlook forecasts global rice production at 552.5 million tonnes for the 2026/27 season, down 2.4% from the prior season’s record.
Poll raises UK 2026 GDP growth forecast to 1.3%
A poll forecasts UK GDP growth of 1.3% in 2026, up from 1.1% in the September poll, and 1.2% in 2027, unchanged from September.
IMF chief says growth alone will not cut U.S. deficit and debt fast enough
IMF chief Kristalina Georgieva said Scott Bessent’s reliance on growth would not reduce the U.S. deficit and $40 trillion debt fast enough.
Project Vault plans initial manufacturer group for possible loans of up to $1 billion
The US government-backed critical-minerals stockpile plans to select more than a dozen American manufacturers that could receive loans of up to $1 billion to procure key materials.
Malaysia’s September palm oil inventories rose 24.5% to a record 3.51 million tonnes
The Malaysian Palm Oil Board’s September data showed inventories increased 24.5% to a record 3.51 million tonnes, extending a six-month rise.
Nidec shares fall 6.6% to lowest level since July 2016
Nidec Corp. shares fell 6.6% on Tuesday to their lowest level since July 2016, amid concerns about delisting risk.
Marshall Islands-flagged tanker hit by projectile in Strait of Hormuz
India’s shipping minister said the tanker M/T Valthera, carrying 11 Indian seafarers, was hit by a projectile in the Strait of Hormuz on Oct. 11.
KOSPI plunges nearly 8% to around 5,540 amid reported AI and inflation concerns
The benchmark KOSPI fell nearly 8% to around 5,540 on Thursday. The report attributed the decline to concerns about AI valuations and financing costs, which intensified a global technology sell-off, and said investors questioned the sustain…