IIR's October 21 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
The latest on the war in the Middle East		Israeli airstrikes have hit multiple branches of a Hezbollah-linked financial institution in Beirut. The strikes came hours after Israel's defense minister vowed to destroy the Iran-backed militant group. The UN has warned that Israel's offensive may be destroying the Palestinian population in northern Gaza through "death and displacement," as it urged Israel to follow a top UN court order to prevent genocide. The US is investigating a leak of highly classified intelligence about Israel's planned response to Iran's major missile attack earlier this month	CNN	Join IIR in Baton Rouge This Week for Our North American Industrial Market Outlook
North Korean troops in Ukraine war called 'huge' escalation risk		North Korea sending troops to help Russian President Vladimir Putin's war against Ukraine would represent a "huge" escalation risk, Ukrainian Foreign Minister Andrii Sybiha said on Saturday. Both the Kremlin and Pyongyang deny they have engaged in military transfers. And NATO Secretary-General Mark Rutte said on Friday that he could not "confirm reports that North Koreans are actively now as soldiers engaged in the war effort." But Putin and North Korean leader Kim Jong Un last summer signed a comprehensive strategic partnership treaty that commits both countries to provide military assistance to each other if either is attacked. South Korean President Yoon Suk Yeol warned on Friday that Pyongyang's involvement in the Ukraine conflict would pose a "grave security threat" to the world.	Politico	Energy Transfer, U.S. Power Grid Funding: Your Daily Energy News
Oil prices regain some ground after 7% loss last week		Oil prices rose on Monday, recouping some of last week's more than 7% decline on worries about demand in China, the world's top oil importer, and easing concerns about potential supply disruptions in the Middle East. China on Monday cut benchmark lending rates as anticipated, part of a broader package of stimulus measures to revive the economy. Data on Friday showed China's economy grew at the slowest pace since early 2023 in the third quarter, fuelling growing concerns about oil demand. Saudi Aramco's CEO told an energy conference in Singapore on Monday that he was still "fairly bullish" on China's oil demand in light of stepped-up policy support aimed at boosting growth, and on rising demand for jet fuel and liquid-to-chemicals.	Reuters	Rosneft's Vostok Oil Set to Expand Pipeline Network by Late 2024
European markets lower as investors await key earnings Asia-Pacific markets mixed as investors assess China loan prime rate cut Gold hits fresh high in record-setting rally amid global uncertainties		European markets were lower on Monday as investors awaited key corporate earnings and monitored elevated Middle East tensions. Regional markets had ended last week on a high note after the European Central Bank announced its third interest rate cut of the year. The ECB on Thursday lowered the deposit rate by another 25 basis points as inflation risks in the European Union are seen to be easing faster than anticipated. Elsewhere, Asia-Pacific markets were mixed on Monday as traders assessed China's loan prime rate announcement, with focus also on Japan's general election at the end of the week. Stateside, stock futures dipped after the Dow Jones Industrial Average and S&P 500 notched their best weekly win streaks of 2024. Gold rose to a fresh high on Monday, extending its blazing rally amid uncertainties surrounding the U.S. election, simmering Middle East tensions and rate cuts by major central banks, while silver scaled a near 12-year peak.	CNBC	Vale Reports Strong Third-Quarter Iron Ore, Copper, and Nickel Output
Natural Gas News: Traders Eye Potential Support at $2.201 as Mild Weather Weighs		Natural gas futures edge higher, testing key support at $2.210, but bearish sentiment persists as weak demand continues. Mild weather across the U.S. reduces natural gas demand, limiting potential rallies and keeping market sentiment bearish. Traders eye potential drop to $1.882 if key support at $2.201 fails, with weather patterns and storage levels dictating market moves.	FX Empire	The 18-Month Outlook for Natural Gas Demand from IIR and East Daley
Joint exercise Sama Sama in South China Sea enters key phase US and Philippine navies conducted advanced drills as China held exercises around Taiwan.		Joint exercise Sama Sama, led by the Philippines and the United States, entered a crucial phase that simulated realistic scenarios in the South China Sea on the same day that China held military drills around Taiwan. Sama Sama, or Togetherness in the Tagalog language, began last week and continues for two weeks in the waters off northern Philippines facing Taiwan. Its 2024 exercise also involves personnel from Australia, Canada, France and Japan, and observers from the United Kingdom. The exercise's area and those of the Chinese drills seemed quite distant from each other but analysts noted that China's Liaoning aircraft carrier group had sailed into seas around Bashi channel between the Philippines and Taiwan a day earlier and was present to the east of Taiwan during Joint Sword-2024B.	rfa	African Nations Seek $5 Billion for Energy Bank
Traders Beware: China's Gas Demand Isn't the Whole Story		When traders want to know where oil demand is heading, they look to China. This has narrowed their viewpoint considerably, leaving them vulnerable to price shocks. Now, the same could be happening with natural gas. China is a huge importer of natural gas, both via pipeline from Russia and in liquefied form. LNG imports to the country since the start of the year have reached close to 80 billion cubic meters (cu m), which is 30 billion cu m more than Russia was sending Germany's way via the Nord Stream pipeline. China also looks set to receive over 30 billion cu m or so via the Power of Siberia pipeline this year. In short, China likes gas and can't get enough of it. This might suggest that the country is moving at a steady pace in a direction where gas provides growing amounts of electricity generation energy. This, however, does not seem to be the case, according to Reuters' Gavin Maguire and data from climate activist outlet Ember. In a new report, Maguire reports Ember data revealing natural gas to be a minor contributor to China's energy mix, accounting for a modest 2.8% of the total this year.	OilPrice	Kinder Morgan Looks Past Weak Market to Strong Opportunities
Week 10/14/24 - 10/21/24		Is the proverbial other shoe about to drop? In the Middle East, Eastern Europe, South China Sea, the economic markets or elsewhere. For it seems the World is holding its collective breath - with but a small sigh of relief that there has not yet been further escalation between Israel and Iran. Although the European Central Bank cut rates, the U.S. stock markets maintain win streaks, and China enacts further fiscal policies to stimulate their economy; gold is notching new highs because of global uncertainties. Mr. Oil Market is recovering somewhat from its steep downturn last week as WTI once again dipped below $70, but doubts remain about global demand; so pundits await yet more news and intel to determine price direction in these tumultuous times...
*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.

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