Futures rose 0.8 percent after advancing 0.6 percent on Monday, rebounding from a weekly loss. Crude stockpiles probably slid by 750,000 barrels last week, a Bloomberg survey showed before an Energy Information Administration report due Thursday. Oil last week fell the most since May on speculation rising global output may offset supply curbs led by members of the Organization of Petroleum Exporting Countries. The output-cuts deal is set to expire at the end of March and the group is likely to discuss an extension at its next meeting on Nov. 30. Its de facto leader, Saudi Arabia, said state oil company Saudi Aramco will ship 560,000 barrels a day less than customers are requesting in November. Saudi Aramco plans to supply 7.15 million barrels a day “despite very strong demand” that exceeds 7.7 million barrels a day, the Saudi Energy Ministry said in a statement. Click Read More below for more of the story.

American Dollar to Canadian Dollar = 0.795138; American Dollar to Chinese Yuan = 0.152528; American Dollar to Euro = 1.188831; American Dollar to Japanese Yen = 0.009116; American Dollar to Mexican Peso = 0.049665.

Stora Enso and Swedish electric car company Polestar have started collaboration to create a truly climate-neutral car by 2030. Stora Enso joins Polestar 0 project as a partner to contribute to the car’s climate neutrality with their bio-based battery material Lignode® by Stora Enso, made from trees. The Polestar 0 project, launched in 2021, aims to create a climate neutral car by 2030 by eliminating all sources of CO2 emissions – not only offsetting them – throughout the supply chain and production. Reaching full climate neutrality throughout the value chain, however, is a challenge for such a complex product as a car. Stora Enso takes on the challenge to contribute to the car battery’s climate neutrality with its bio-based battery anode material, Lignode® by Stora Enso, with the aim to become a commercial supplier for the outcome of the Polestar 0 project. Graphitic carbon in car batteries today is either mined or made from fossil-based materials. Lignode® by Stora Enso is made of lignin which comes from sustainably managed Nordic trees that grow back once harvested. It is essential to revolutionise battery technology to sustainably cover the needs for energy storage in an electrified future. Stora Enso believes that the key to combating climate change involves the use of renewable materials.