IIR's October 14 Market Scorecard Brings You Breaking Geopolitical News

Researched by Industrial Info Resources (Sugar Land, Texas)--Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies.

Event	MarCon*	IIR Comment	Outlet	IIR News
Middle East latest: US says it will send THAAD defense battery to Israel, along with US troops		The U.S. is sending a Terminal High Altitude Area Defense battery to Israel, along with U.S. troops to operate it. The Pentagon made the announcement just hours after Iran warned the U.S. to keep its military forces out of Israel. Israel has been escalating its campaign against Hezbollah with waves of heavy airstrikes across Lebanon and a ground invasion at the border after a year of exchanges of fire.	AP News	Florida Ports Opening Post-Milton
Kremlin accuses NATO of stoking nuclear tensions		Russia has accused NATO of fuelling tensions as the western military alliance launches its annual nuclear drill involving 2,000 troops. NATO launched the 'Steadfast Noon' drill in northern Europe on Monday, which also includes 60 aircraft from eight bases and 13 nations. The drill will be led by Belgium and the Netherlands, and will last around two weeks. Joe Biden said in a statement yesterday that he is ready to negotiate with Russia, China and North Korea on nuclear issues "without preconditions to reduce the nuclear threat".	Independent	Energy Price Surge Leads to Shutdown of German Chemical Plants
Oil down 2% as China demand concerns erase last week's gains OPEC cuts 2024, 2025 global oil demand growth view again		Oil prices declined about 2% on Monday, wiping out all of last week's gains, after China oil imports fell for the fifth month, stoking concern about fuel demand as OPEC cut its 2024 and 2025 global oil demand growth view again. China's stimulus plans also failed to inspire investor confidence while markets remained on edge about potential Israeli attacks on Iranian oil infrastructure. OPEC on Monday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also lowered its projection for next year, marking the producer group's third consecutive downward revision.	Reuters	U.S. CCS Development Gains Steam
European markets inch higher as the new trading week kicks off Gold steadies as China stimulus plan dulls risk appetite Dollar holds near highs as investors parse China's stimulus plans		European stocks inched higher on Monday, with regional markets searching for direction after a choppy week last week. The region's major indexes had closed higher on Friday as investors assessed U.K. growth figures and looked ahead to the much-anticipated Chinese stimulus announcement over the weekend. China's Minister of Finance Lan Fo'an in a press briefing on Saturday hinted at more debt issuance amid efforts to shore up the economy, stating the government had a "rather large" space to increase the deficit. Gold prices steadied on Monday amid a risk-off mood driven by an underwhelming China fiscal stimulus, while investors awaited comments from U.S. Federal Reserve officials for hints on its interest rate outlook. The dollar hovered near recent highs on Monday as investors digested China's weekend stimulus announcements that some found disappointing, while the euro extended its fall ahead of a central bank meeting this week.	CNBC	Rio2 Receives Last Permits to Construct Fenix Gold Mine in Chile
Natural Gas News: Prices Slide as Bearish Market Sentiment Persists, Key Support in Focus		U.S. natural gas futures traded lower on Monday, continuing last week's downtrend as bearish pressure dominates the market. After testing the 50-day moving average at $2.556, prices face a crucial level that could either attract new buyers or lead to further declines. Looking ahead, the market faces a mixed outlook. A cold front forecasted for the Midwest and Northeast could provide upward pressure on natural gas prices as heating demand rises. However, the lingering impact of demand destruction from Hurricane Milton and the potential for continued mild weather elsewhere could limit gains.	FX Empire	IEA: Asian Nations Show Strong Demand Growth for Natural Gas
China Holds War Games Encircling Taiwan in Warning to Island's Leader		China held large-scale military drills in the waters and skies surrounding Taiwan on Monday, a show of force that signaled the growing threat of Beijing's ability to choke the self-governing island that China claims as its own. China said its army, navy, air force, rocket force and other troops took part in the drills to test their ability to fight alongside one another. China's oldest aircraft carrier, the Liaoning, also participated in the drills, state media reported, the first time the ship has joined military exercises targeting Taiwan. Beijing said the drills were a warning to Taiwan's government after the island's president, Lai Ching-te, made a speech on National Day last week that China regarded as a message promoting independence.	New York TImes	California Enacts Sweeping Greenhouse Gas Reporting Law
U.S. Expands Sanctions on Iranian Oil 'Ghost Fleet'		The United States has expanded sanctions against Iran's oil and petrochemicals sectors, including targeting ships and ship owners that have illicitly transported Iranian petroleum. The U.S. Treasury and State Department have designated several companies, based in Suriname, India, Malaysia, and China, for "knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran." Iran's oil exports have declined significantly due to the sanctions and the threat of further retaliation.	OilPrice	IEA: Sharp Projected Gains in Renewable Generation, Even-Faster Deployment Needed
Week 10/07/24 - 10/14/24		Let the War Games Begin as NATO launches its annual nuclear drill provoking the Kremlin...China is holding large-scale military drills around Taiwan...And the U.S. is sending a missile defense system and troops to Israel. One wonders if these games will bear witness to further escalation in Eastern Europe, the Middle East, or the South China Sea. For the moment, Mr. Oil Market is shrugging off this geopolitical gamesmanship and posturing and retreating from recent highs recognizing the harsh reality of economic fundamentals lowering demand--especially as news out of China continues to disappoint. Not to mention, OPEC continues to continue to cut its 2025 oil demand forecast; maybe this third time will be the charm...
*MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).