U.S. oil production in October is expected to rise to 14 million barrels per day.

(1) On Wednesday, Australia's High Court issued a historic ruling on a major coal mine expansion case, determining that local planning authorities failed to properly consider methods for limiting greenhouse gas emissions. Environmental advocates highlighted that this is the first landmark ruling by Australia's highest court on a climate-related issue. (2) Previously, lower courts found that Scope 3 emissions, resulting from customers burning coal, account for 98% of the potential pollution of this project. (3) This decision will directly affect coal mine approvals in New South Wales and could serve as a precedent for similar projects nationwide. Currently, around 30 new or expanded coal mine projects are seeking government approval. (4) Australia's coal export industry is valued at around 70 billion Australian dollars (49 billion dollars). Mining companies have warned that approval delays may impact employment and Australia’s reputation as an energy supplier.

According to Zhitong Finance APP, McDonald's (MCD.US) is facing a federal lawsuit. The complaint alleges that its AI-enhanced pricing tool violates antitrust laws by sharing non-public data with franchisees who may be competing in the same market.

According to The Wall Street Journal, U.S. President Trump is not only relying more heavily on Bessent, but has also given him the responsibility of tackling complex economic issues such as high borrowing costs, persistent inflation driven by oil prices, and the rapidly accumulating government debt. A senior government official who has worked with Treasury Secretary Bessent stated that the entire burden of the administration’s economic policy agenda rests on the shoulders of this Treasury Secretary.