Oil in Worst Monthly Run Since 2023 With OPEC+, Ukraine in Focus

Brazilian iron ore producer Vale SA announced a special dividend for its shareholders, driven by robust operational performance and elevated iron ore prices this year.

Gold prices have remained steady and are on track for a fourth consecutive monthly gain, buoyed by optimism surrounding a potential interest rate cut by the Federal Reserve next month. This sentiment has been reinforced by comments from Fed officials and recent economic data suggesting a weakening labor market.

Chinese electric vehicle stocks have faced disappointing earnings results, leading to heightened investor anxiety about the market's future, particularly as 2026 approaches. This downturn reflects broader concerns about the sustainability of growth in the EV sector amidst increasing competition and economic pressures.

Asian stocks opened with uncertainty on Friday as the recent global equity rally appeared to be losing steam, reflecting a broader trend of market volatility. Investors are increasingly cautious following a week of sharp fluctuations in stock prices, particularly in the U.S. market.

China has significantly expanded its influence in global shipping by investing billions in port infrastructure worldwide, positioning itself strategically amid rising trade tensions. This dominance raises security concerns among other nations as they grapple with China's growing economic footprint.

Starlink and Kyivstar have launched a direct-to-cell service in Ukraine, providing a vital communication link as Russian strikes continue to disrupt the country's power grid. This satellite-based service aims to keep Ukrainians connected during ongoing conflicts and infrastructure challenges.

Sophie Huynh, a portfolio manager at BNP Paribas Asset Management, expressed a positive outlook on Chinese equities during an interview on Bloomberg Markets, emphasizing their role as a diversification strategy within the firm's investment portfolios.

Chile's state-owned copper company, Enami, has announced that it has received multiple financing offers for a $1.7 billion copper smelter project, with plans to select banks for structuring the deal as early as next week, despite a currently depressed market.