Updated Updates paused since
Now: Iran war
Brent traded at $116.56 as Iran's IRGC claimed four tankers hit mines in Hormuz and the Houthis claimed six attacks on Saudi targets; neither claim was independently confirmed. Israel's final results gave Netanyahu's bloc 53 seats, Eisenkot's bloc 48 and Arab parties 19, leaving both major blocs short of the 61-seat majority.
OilPrice.com reported Brent crude trading at $116.56 a barrel and West Texas Intermediate at $103.35. Both benchmarks were heading for another weekly gain and a fourth consecutive monthly gain amid concerns about Middle Eastern supply disruptions, including Houthi attacks on Saudi infrastructure.
Final results from Israel's Central Elections Committee gave Benjamin Netanyahu's bloc 53 of the Knesset's 120 seats, eight short of a majority. The opposition bloc led by Gadi Eisenkot won 48 seats, while Raam and the Joint List won a combined 19. Likud remained the largest party with 27 seats.
With more than 99% of ballots tallied, Benjamin Netanyahu’s bloc held 53 seats, Gadi Eisenkot’s opposition bloc had 48, and Arab-list parties held 19. Neither major bloc reached the 61 seats needed to control the 120-seat Knesset; opposition figures met to discuss forming a coalition.
ExxonMobil Chief Executive Darren Woods and Chevron upstream president Clay Neff canceled plans to attend the November 2-5 ADIPEC energy conference in Abu Dhabi, according to Reuters sources cited by OilPrice.com. Neither company commented.
French Economy Minister Roland Lescure said European governments will release 42 million barrels of emergency oil stocks over three months, with diesel accounting for half of the volume. France plans to supply 10 million barrels of diesel at cost in the coming days.
Israeli President Isaac Herzog warned against tarnishing an entire community after Benjamin Netanyahu and his allies alleged ballot fraud involving Arab-led parties. Herzog said he had spoken with the central elections committee and Shin Bet about alleged foreign interference and called for a thorough investigation. He also urged parties to reconsider their positions ahead of coalition talks.
Shell reported third-quarter adjusted earnings of $10.814 billion, compared with $5.432 billion a year earlier. Its indicative refining margin rose to a record $42 per barrel from $24 in the second quarter. OilPrice.com attributed the gains to strong trading, higher oil and gas prices and fuel-supply disruptions during the Middle East crisis.
TotalEnergies reported third-quarter adjusted net income of $9.1 billion, up 127% from a year earlier and above analysts' average forecast of $8.3 billion. The company cited historically high refining margins, higher oil and gas prices, and strong oil and LNG trading. Quarterly cash flow reached $12.3 billion.