The UK Maritime Trade Operations Office has received a report of an incident in the Strait of Hormuz, 25 nautical miles northeast of Port Sab in the Sea of ​​Oman. A third-party report states that a vessel heading out of the strait caught fire. As of the time of this report, the cause of the fire is unclear.

According to the Wall Street Journal: Sources say Ukraine has suspended its attacks on Russian oil refineries after pressure from the U.S. During a meeting on October 20, Trump's son-in-law, Jared Kushner, asked Zelensky to halt the strikes. The Ukrainian Defense Minister told Zelensky that the military believed it was best to postpone the attacks on refineries at this sensitive time.

Japan's Tokyo unadjusted CPI rose 1% month-on-month in October, down from 0.6% in the previous month.

LME copper eased Thursday after hitting a two‑week high as investors moved to the sidelines amid doubts about AI-driven demand and elevated US inventories. JP Morgan analyst Patrick Jones said market sentiment has become more cautious but not outright bearish. Alphabet’s sharp after‑hours drop on Wednesday, after the company reported significantly faster cash burn from AI infrastructure spending, weighed on demand expectations. The rally this year has also been tied to expectations of US tariffs that would divert copper flows to the US and tighten supply elsewhere; COMEX registered stocks are up 60% YTD to 800,321 short tons (≈726,039 t). Jones said a key downside risk is the US ultimately not imposing tariffs, which would reduce US import demand and shift pricing power back to Chinese buyers.

Japan's October Tokyo CPI rose 2.8% year-on-year, below the expected 2.70% and the previous reading of 2.70%.

Japan's core CPI in Tokyo rose 2.6% year-on-year in October, below the expected 2.60% and the previous reading of 2.70%.