South Korea's Lee said he may take minimal action to protect the country's economic interests and citizens.

Energy: 1. Industry data and Reuters calculations show that Russian seaborne petroleum product exports rose 16.4% in August compared to July, but fell 50% year-on-year. 2. Preliminary plans indicate that Angola's crude oil exports in November are expected to be 850,000 barrels per day. Angola's November crude oil exports are expected to fall to their lowest level since at least 2008, at 850,000 barrels per day. 3. Three industry sources said that an attack last week damaged three pumping stations on Saudi Arabia's vital East-West oil pipeline, one more than previously estimated. It is unclear how long repairs will take. 4. Pakistan announced a series of austerity measures following rising fuel prices. These measures include reducing fuel quotas for official vehicles, setting market closing times, banning vehicle purchases, restricting overseas travel, and banning official banquets. 5. Iranian Oil Minister Paknemad Ahmadinejad stated that diesel imports have been suspended for some time, and the Setareh Mehr refinery in the Persian Gulf region is expected to be operational by the end of the year, providing crucial support for the production of gasoline, diesel, and other necessary fuels. Agriculture/Mining: 1. Indian rice production may see its biggest drop in 16 years. 2. UBS: We are positive on the 12-month outlook for gold prices. 3. Venezuela may transfer $4 billion in gold to the New York Fed, intended as collateral for government loans. 4. According to company statements and sources, the US will invest hundreds of millions of dollars in Niger's uranium mining industry. US troops were expelled from the country several years ago. 5. Goldman Sachs: Gold prices may fall to the support level of $4,070/oz in the short term, then gradually recover to $4,200/oz by the end of 2026. We maintain our end-2027 gold price forecast of $5,400/oz. Iran Situation: 1. South Korean President Lee Jae-myung: Will not send troops to intervene in the Middle East conflict. 2. French President Macron convened party leaders to discuss the Strait of Hormuz and oil prices. 3. According to Reuters: Shipping data shows that four commodity ships passed through the Strait of Hormuz on Thursday, down from the 10-day average of about 16. 4. Iranian Revolutionary Guard: A Togolese-flagged oil tanker was struck for attempting to "illegally transit" the Strait of Hormuz and stopped sailing after catching fire. Other: 1. The US House of Representatives passed a Russian sanctions bill, which will be sent to Trump for his signature. 2. US weather forecasting agency CPC: El Niño is strengthening, and the probability of a strong event this fall and winter is over 90%.

Japan's Prime Minister Takaichi said this is the first year of active fiscal policy.