Latvia's prime minister said any economic ties with Russia would weaken Latvia and Moscow would exploit them.

1. Trump Administration Holds Closed-Door Meeting to Discuss Next Steps in the Middle East —According to three U.S. officials speaking to Axios, several key members of President Trump's cabinet held a closed-door meeting for several hours on Friday at Camp David to discuss the next steps in the war with Iran and the conflict between Saudi Arabia and the Houthi rebels in Yemen. The Trump administration did not publicly announce the meeting, which is extremely rare. 2. Says No Diesel Export Ban —Trump: We will not impose a diesel export ban. A diesel export ban was never really on the agenda. We have a very good relationship with Europe and have asked Europe to release more diesel supplies to help ease fuel price pressures. 3. Threatens to Double Fees if South Korea Withdraws from Alaska LNG Investment —Trump previously announced a plan for approximately $200 billion in South Korean investment in the U.S., including a liquefied natural gas pipeline project in Alaska. South Korea subsequently stated that the project would only proceed if it proved economically viable. Trump threatened that if South Korea did not agree to invest in the Alaska LNG project, the U.S. would charge South Korea higher fees. 4. Trump Speaks with French President —According to NBC News: US President Trump spoke with French President Macron to discuss the energy situation. The French president discussed the need for joint efforts to address rising fuel prices and ensure the supply of refined petroleum products. 5. Clayton Reportedly Appointed Head of AI Affairs—According to CNN: US President Trump is expected to appoint Jay Clayton as the new head of artificial intelligence affairs, with an announcement potentially as early as Friday. 6. US-Russia Ukraine Talks Reportedly Involve Oil Deal with Trump Allies —According to the New York Times, negotiations between the Trump administration and Russia to end the war in Ukraine have expanded to a multi-billion dollar oil deal that will benefit Middle Eastern business executives associated with the two main US negotiators, Steve Vitkov and Jared Kushner.

Middle East tensions have lifted global refined-fuel prices. On Oct 2 a UK roadside assistance and vehicle recovery firm reported average UK retail diesel at £2.00/litre (~RMB17.75), above the June 2022 peak, and said the price may rise further.