Federal Reserve official MUSALEM, in prepared remarks to a group, declined to comment on the economic outlook or monetary policy.

US unemployment rate in October recorded 4.1%, versus market expectation of 4.2%.

Bloomberg survey: OPEC crude output rose 930,000 bpd in October to 22.80 mln bpd, about 88% of members’ February pre-war daily output. Saudi Arabia provided most of the increase, driving a Gulf-region supply recovery. Despite ongoing US–Iran hostilities, Saudi is gradually resuming tanker transits via the Strait of Hormuz and loading crude on the Red Sea coast. Gains in Iraq and Kuwait were offset by declines in Nigeria and Iran; Iranian output fell to at least a 30-year low amid a US maritime blockade. The OPEC supply recovery has helped pull international oil prices off last month’s highs; Brent futures touched around $98/bbl this week after Trump signalled de-escalation following Republican midterm losses.