Houthi Strike Hits Building at Saudi Aramco -2-

0633 GMT - Pan Ocean could post a 3Q earnings beat on robust market conditions for bulk carriers and tankers, iM Securities' Bae Se-ho says. The analyst expects the South Korean shipping company's operating profit to have jumped 55% from a year earlier to 194 billion won for the July-September quarter, above the market consensus estimate of 184 billion won. Higher iron ore shipments from China and Brazil as well as rising tanker freight rates amid Middle East conflicts likely boosted Pan Ocean's 3Q earnings, Bae says. He is also positive about the company's expanding fleet of very large crude carriers, citing surging VLCC freight rates amid the conflicts. He raises his earnings-per-share estimate for Pan Ocean by 9% this year. (kwanwoo.jun@wsj.com)

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Rio Tinto's Production Update Is as Expected -- Market Talk

0541 GMT - Rio Tinto's third-quarter production update is in line with expectations, RBC Capital Markets analyst Ben Davis writes. Pilbara iron ore shipments were as expected, copper output was 2% ahead while aluminum output was 6% below consensus views, he says. All guidance was backed apart from lithium output, which is now seen at the lower end of the guided range due to the slower ramp-up at Sal de Vida in Argentina, he writes. Overall, the update should only drive minimal changes to consensus earnings estimates, he says. In Sydney, shares are down 0.3% at A$160.48.(adam.whittaker@wsj.com)

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Malaysia's Renewable Energy Could Remain Cheaper Than Grid Electricity -- Market Talk

0513 GMT - Renewable energy supply could remain significantly cheaper than grid electricity, supporting stronger demand over the next two years, TA Securities analyst Hafriz Hezry says in a note. The national grid access charge has been raised to 0.18 ringgit/kWh from 0.14 ringgit previously. Even so, renewable electricity is estimated to cost 0.54 ringgit/kWh, about 19% less than grid electricity for data centers after factoring in projected January 2027 surcharges, he says. About 3.1 GW of renewable energy projects have been registered, potentially generating 12 billion ringgit-14 billion ringgit in solar project construction work, he adds. TA Securities maintains an overweight rating on Malaysia's power and utilities sector, pegging Samaiden and Tenaga Nasional as potential beneficiaries of the rollout of renewable projects.(yingxian.wong@wsj.com)

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BP's Deleveraging Is Ahead of Schedule -- Market Talk

0510 GMT - British energy major BP posted a notably stronger-than-expected third-quarter business update, HSBC's Kim Fustier writes. Cash generation and deleveraging were particularly strong despite $1 billion higher tax outflows and $1 billion of hybrid bond redemptions, she writes. The company's products division is driving the strong performance, with an up to $2.1 billion uplift after refining margins jumped to $46.7 a barrel from $29.6 a barrel in the previous quarter, she says. Meanwhile, oil-and-gas production of 2.19 million to 2.24 million barrels as day is broadly stable on quarter and is slightly above prior guidance, she says.(adam.whittaker@wsj.com)

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Iron Ore Falls as Demand Expectations Stay Weak -- Market Talk

0227 GMT - Iron ore prices are lower in early Asian trade as demand expectations remained weak. Poor profitability at Chinese steel mills fuels expectations of further production cuts, weakening iron-ore demand as a result, Baocheng Futures says in a note. The average daily molten iron output and consumption of imported iron ore last week are at low levels compared to recent years, it says. The most actively traded January iron ore contract on the Dalian Commodity Exchange drops 0.9% to 673.5 yuan a ton. (sherry.qin@wsj.com)

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Copper Prices Edge Higher Thanks to Tightening Inventories Outside U.S. -- Market Talk

0217 GMT - Copper prices inch higher in early Asian trade, thanks to tightening inventories outside the U.S. and geopolitical risks, Everbright Futures analysts say in a note. Weak spot demand and uncertainty over U.S. refined copper import tariffs are keeping prices rangebound, they say. Downstream buyers remain cautious about restocking at high prices, with spot premiums easing sharply from preholiday levels despite remaining elevated, they say. Uncertainty over U.S. tariff policy continues to constrain market flows, keeping copper prices in a volatile range until the supply dynamics shift, they add. The three-month LME copper contract is 0.3% higher at $14,625.00 a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

Write to Barcelona Editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

October 14, 2026 09:25 ET (13:25 GMT)