Daily Morning Brief

Tronox Holdings reported a Q3 net loss of $55 million as Middle East conflicts disrupted supply chains and raised input costs for titanium dioxide and zircon production. Volumes fell short of expectations while prices increased, offset by unfavorable exchange rates and freight costs.

Eli Lilly will sell obesity drugs Zepbound and Foundayo directly on Hims & Hers, competing with Novo Nordisk. The partnership reduces consumer friction and aligns with Lilly's raised revenue forecast driven by booming demand.

Home renovation costs have risen steadily due to higher oil, energy, and material prices. Major manufacturers like Sherwin-Williams and Whirlpool are raising prices to offset increased freight and input costs, impacting homeowners through 2027.

Equinor crews are repairing the Visund gas and oil platform following a fire that halted production. The facility, accounting for 3.7% of Norway's export capacity, is scheduled to remain offline until November 16.

Global oil markets show signs of returning to surplus as high prices dampen demand, according to analysts and banks like JP Morgan and Goldman Sachs, despite ongoing disruptions from the Iran war affecting Middle East exports.