Geothermal energy developer Fervo Energy surged over 18% in U.S. pre-market trading; according to The Wall Street Journal, Fervo has signed a nearly 400 MW geothermal power supply agreement with Google.

Trader: As oil prices surge, the Reserve Bank of India sold US dollars before market open to support the Indian rupee exchange rate.

Spot gold fell by 1.00% intraday to $4,284.70 per ounce; COMEX gold futures main contract last traded at $4,331.90 per ounce, down 1.47% on the day.

Spot platinum has just broken through the $1,720.00/oz level, last quoted at $1,719.61/oz, down 1.34% on the day; Nymex platinum futures main contract last quoted at $1,728.9/oz, down 2.12% on the day.

Market news: Documents show that Honda plans to cut costs by 1.5 trillion yen (approximately $9.4 billion) by 2030, and has asked suppliers for significant price reductions. Honda aims to reduce the costs of some key components—including those for software-defined vehicles—by 30%.