<p><span data-teams="true"><strong>GLOBAL: US President Donald Trump said Russia agreed to immediately release 300,000 tons of diesel&nbsp;to stabilize soaring global energy prices.&nbsp;</strong></span></p>

<p><span data-teams="true"><strong>Market impact: Crude oil prices held gains amid Middle East supply risks,</strong> resulting in a decline in US equities and a stronger dollar.</span></p>

<p><span data-teams="true"><strong>Despite increased scrutiny, the initial release will be followed by 500,000 tons in November,</strong> with an additional one million tons to follow shortly after.</span></p>

<p><span data-teams="true"><strong>LOCAL: The Energy Regulatory Commission has directed Meralco to refund consumers PHP 2.64 billion over the next six months, following a revised computation of Meralco’s distribution rates.&nbsp;</strong></span></p>

<p><span data-teams="true"><strong>Market impact:&nbsp;The PSEi climbed on bargain hunting,&nbsp;</strong>and the peso rose ahead of US inflation data.</span></p>

<p><span data-teams="true"><strong>However, the super El Niño could trigger a surge in electricity consumption.</strong> Consumers should brace for future electricity rate increases and possible intermittent power outages.</span></p>