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• The U.S. Struggles to Break Out From China’s Grip on Rare Earths
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  The Trump administration is pursuing an array of unconventional measures to shore up mineral supplies that are vital for makers of cars, jet engines, weaponry and data centers, as the Chinese government leverages its control of rare earth exports in ways that could cripple global industry.

  
  

  In recent months, the administration has taken stakes in several mining and minerals firms. It has discussed establishing a strategic reserve of rare earths and supporting domestic producers through price controls and tariffs. On Monday, the United States announced a strategic agreement with Australia to invest billions of dollars to develop mineral supplies. The topic is expected to be on the agenda for a Group of 7 meeting in Canada at the end of the month.

  
  

  China mines 70 percent of the world’s rare earths and processes 90 percent of the global supply. When the Trump administration recently hit the nation with high tariffs and expanded technology controls, the Chinese government responded by rolling out a licensing system that would give it control over rare-earth shipments even outside China.

  
  
  

  
  

  
  

  
  

  
  
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• Oil rises nearly 2% on trade talk optimism
  LONDON, Oct 22 (Reuters) Oil prices rose on Tuesday after falling the...
  LONDON, Oct 22 (Reuters) Oil prices rose on Tuesday after falling the previous session, as traders navigated concerns about an oversupplied market and the trade dispute between the U.S. and China, the world’s top two oil consumers.
  
  Oil prices pushed higher for a second day on Wednesday, rising by about 2%, buoyed by hopes of progress of a U.S. trade deal with China and India.
  
  This morning, Brent crude futures rose $1.21 to $62.53 a barrel as of 8:20 ET, while U.S. West Texas Intermediate crude futures were also up $1.21 to $58.45, after closing up 56 cents on Tuesday at $57.58 per barrel.
  
  Both WTI and Brent have shifted to contango market structures, where prices for immediate supply are lower than for later delivery and which typically indicate that near-term supply is abundant and demand is declining.
  
  On the physical market, cargoes were going unsold and discounting was spreading across West African grades with a large surplus still expected to come, Rystad’s vice president of oil markets Janiv Shah said.
  
  Crude prices have fallen from late last month as the Organization of the Petroleum Exporting Countries and its allies, including Russia, known as OPEC+, pushed ahead with plans to add more oil to the market.
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• CenterPoint Sells Ohio Gas Assets to National Fuel Gas for $2.62B
  CenterPoint Energy is selling its Ohio natural...

  CenterPoint Energy is selling its Ohio natural gas distribution assets to National Fuel Gas Co. for $2.62 billion.

  
  

  The deal includes approximately 5,900 miles of transmission and distribution pipeline in Ohio serving 335,000 metered customers, the companies announced Oct. 21. National Fuel will also acquire a team of employees to operate the distribution and transmission assets.

  
  

  The deal is expected to close in the fourth quarter of 2026 and is subject to federal and state regulatory reviews.

  
  

  The acquisition will double the size of National Fuel’s gas utility rate base and expand operations into Ohio. National Fuel produces, transports, stores, and distributes natural gas in western New York and Pennsylvania.

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• ☕️What Else is Brewing Wednesday Morning
  The Trump–Putin meeting was called off. Less than...
  The Trump–Putin meeting was called off. Less than a week after announcing that President Trump would soon meet with Vladimir Putin in Hungary to discuss ending the war in Ukraine, the White House said the rendezvous is not happening any time soon. According to ABC News, a White House official argued that the meeting was no longer necessary after Secretary of State Marco Rubio and his counterpart, Russian Foreign Minister Sergei Lavrov, “had a productive call.” Russia has not budged from its maximalist position that the “root causes” of the war must be addressed before it agrees to a ceasefire.
  
  President Trump is reportedly demanding that the Justice Department pay him $230 million in compensation for its previous criminal investigations of him.
  
  GM beat Wall Street’s earnings expectations and raised its guidance after it said it had experienced a smaller hit from tariffs than initially forecast.
  
  Sanae Takaichi became Japan’s first female prime minister yesterday, promising to boost the country’s economy and improve relations with the US.
  
  Coca-Cola with cane sugar has started to roll out in the US after President Trump called on the company to use the ingredient instead of high fructose corn syrup.
  
  Walmart paused job offers to candidates who need H-1B visas, Bloomberg reported, following the Trump administration’s instituting $100,000 visa fees.
  
  HBO Max raised prices by $1–$2 per month, depending on the type of plan.
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• DAILY OIL PRICE: October 21, 2025
  Crude Oil: 57.82   (+0.30)....
  
  
  • Crude Oil: 57.82   (+0.30).
  
  
  • Nymex MTD AVG: 59.5695.
  
  
  • Natural Gas: 3.474   (+0.077).
  
  
  • Gasoline: 1.8253   (-0.0049).
  
  
  • Spreads: November/December (+0.58)     December/January (+0.08).
  
  
  • Plains WTI Posting: 54.30   (+0.30).
  
  

  
  Source: Odessa American
  
  
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