Markets have stepped up bets that the Bank of England will raise rates, pricing in a 50bp increase by February next year.

Japanese Chief Cabinet Secretary Minoru Kihara: Rising interest costs may lead to a decrease in fiscal flexibility.

Energy: 1. Survey: Saudi Arabia may raise October Asian oil prices by $2 to $6 per barrel due to strong demand. 2. South African government: Retail gasoline prices will rise by 134 cents per liter in September; wholesale diesel prices will rise by up to 314 cents per liter in September. 3. European natural gas prices rise due to renewed US-Iran conflict. 4. According to GME data: The official selling price of Omani crude oil in October was $87.84 per barrel, up $11.48 from $76.36 in September. 5. The Zaporizhia nuclear power plant has been powered solely by its own diesel generators for 11 consecutive days. 6. The price of the near-month contract for Dutch TTF natural gas futures rose 5.1% to €70.40 per megawatt-hour, the highest level since March 19. 7. A Reuters poll predicts that the average Brent crude price in 2026 will be $85.08 per barrel, lower than the July forecast of $85.22; the average U.S. crude price in 2026 is expected to be $80.20 per barrel, higher than the July forecast of $80.14. 8. The U.S. Environmental Protection Agency (EPA) approved $1.76 billion in biofuel exemptions, more than double the expected amount. 9. India's chief economic advisor: Global oil production disruptions are expected to last longer. 10. U.S. Treasury Secretary Bessenter: Oil prices will fall. 11. India's Oil and Natural Gas Corporation will invest $736 million in strategic reserves. 12. Abu Dhabi National Oil Corporation (ADNOC) has returned to full production after being affected by the war. 13. Trump: Venezuela will decide how to handle its relationship with OPEC. 14. U.S. company NABEP will take over several Venezuelan oil fields. 15. Indonesian Statistics Agency: From January to July, Indonesia exported 13.51 million tons of crude oil and refined palm oil, and 201.47 million tons of coal. Agriculture/Mining: 1. Central Bank of Turkey: Initiated a 1-week gold-for-lira sell-side swap auction using traditional methods, with a volume of 6 tons. 2. Director General of the Indian Meteorological Department: August monsoon rainfall in India was 16.3% below normal. 3. Chief Economic Advisor of India: Lower global urea prices may alleviate subsidy pressure and reduce the risk of fiscal instability. 4. LG Energy signed a lithium supply agreement with Smackover, Arkansas. 5. Turkey stated it has developed a Black Sea grain transport plan and is maintaining contact with Russia and Ukraine. 6. Tightening supply pushed zinc prices to their highest level in over four years. 7. Indonesian Statistics Agency: Indonesia's rice production from January to October is estimated at 31.41 million tons.