TotalEnergies Expects Windfall as Conflict -2-

0732 GMT - Gold prices rise more than 1% in early European trading but remain below $4,200 a troy ounce, recovering some ground after Wednesday's selloff. That session was marked by sharp swings in U.S. Treasury yields, which initially jumped on hotter-than-expected inflation data before reversing as investors covered short positions amid a selloff in technology stocks, Saxo Bank analysts say. The stronger consumer-price data also raised expectations of U.S. interest-rate hikes. The probability of a hike remains relatively low at 29%, according to CME's FedWatch tool, but it has climbed from 17% at the end of last week. Gold futures in New York are up 1.4% to $4,164.70 an ounce. (giulia.petroni@wsj.com)

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TotalEnergies' Downstream Gains on Higher Refining Margins -- Market Talk

0729 GMT - TotalEnergies' third-quarter update is broadly in line with expectations, apart from the downstream unit, which is stronger than forecast due to higher refining margins, Barclays analyst Lydia Rainforth writes. Barclays's quarterly adjusted net income estimate rises by around 10% to $8.8 billion. The around $3 billion working capital release should also aid deleveraging efforts, she writes. Shares rise 0.8% to 80.70 euros.(adam.whittaker@wsj.com)

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Oil Falls Despite Hormuz Shipping Attacks, Houthi Strikes on Saudi Arabia -- Market Talk

0724 GMT - Oil prices fall despite escalating Middle East hostilities amid Houthi strikes against Saudi Arabia and continued attacks on shipping in the Strait of Hormuz. In early European trading, Brent crude slides 1.7% to $104.28 a barrel, while WTI futures are down 1.1% to $94.07 a barrel. Flows through Hormuz averaged 11.6 million barrels a day in the seven days through Oct. 13, about 68% of the 17.1 million-barrel baseline, with daily volumes fluctuating sharply, according to Kpler. Meanwhile, hopes that an energy ceasefire in the Russia-Ukraine war would ease diesel supply constraints have largely faded. Refined-product markets remain tight and could come under further pressure after Ukrainian President Volodymyr Zelensky told the Financial Times that Kyiv would resume strikes on Russian oil refineries. (giulia.petroni@wsj.com)

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Palm Oil Falls on Cautious Sentiment -- Market Talk

0244 GMT - Palm oil falls amid cautious sentiment, AmInvestment Bank says in a note. Technical analysis suggests crude palm oil futures may stage a rebound in the near term but remain in a broader downward trend, with a break below support risking further losses and resistance potentially capping gains, it adds. AmInvestment Bank pegs the resistance level at 4,750 ringgit a ton and support at 4,630 ringgit a ton. The Bursa Malaysia Derivatives contract for December delivery is down 68 ringgit at 4,632 ringgit a ton. (yingxian.wong@wsj.com)

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Iron Ore Falls Amid Unattractive Steel Mill Margins -- Market Talk

0227 GMT - Iron ore prices are lower in early Asian trade amid unattractive steel mills margins and falling steel output. Meanwhile, China's imports of iron ore continue to rise on year, keeping the domestic supply ample, Nanhua Futures says in a research note. As Chinese manufacturing sector's steel demand slightly recovers lately, 3Q may be the weakest season in terms of steel use, it says. Both Chinese and overseas steel demand may be concentrated in the later part of the year, it adds. The most actively traded January iron ore contract on the Dalian Commodity Exchange drops 0.5% to 671.00 yuan a ton. (sherry.qin@wsj.com)

Write to Barcelona Editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

October 15, 2026 11:08 ET (15:08 GMT)