Energy:
1. Sources familiar with the matter: The EU is considering sanctions against Indian companies that facilitate Russian oil trade.
2. Goldman Sachs: Brent crude oil prices are forecast to be in the low $50s per barrel by the end of 2026.
3. HSBC: If increases in Western crude oil inventories materialize, Brent crude oil prices face the risk of falling to $65 per barrel by 2026.
4. Russia's Baltic port of Primorsk has resumed operations.
5. The US Energy Secretary said nuclear fusion power generation could be possible within eight years.
6. California lawmakers approved a measure to increase oil drilling to reverse the state's long-term decline in fuel production, avoid refinery closures, and reduce local gasoline prices that are higher than the national average.
7. US Treasury Secretary Benson & Melson: The US is willing to consider tougher sanctions on Russia, including targeting oil giants and making greater use of frozen Russian assets. 8. Azerbaijan's Finance Minister: The 2026 budget sets an average oil price of $65 per barrel; GDP growth is projected to be 5% in 2026.
9.
Kuwait priced its October crude oil sales to the United States at a premium of $3.90 per barrel over the benchmark, its crude oil sales to Asia at a premium of $1.05 per barrel over the benchmark, and its crude oil sales to northwest Europe at a discount of $1 per barrel over the benchmark.
10. Kuwait is pursuing a plan that includes drilling 15 offshore oil exploration wells.
11. OPEC+ representatives will discuss this week updating the member countries' crude oil production capacity assessment mechanism to determine a production baseline for 2027.
12. India's Ministry of Trade: India's oil imports reached $13.2 billion in August.
Precious Metals and Mining:
1. Market News: Thailand is reportedly considering imposing a tax on gold transactions to slow the Thai baht's appreciation. 2. The Bank of Thailand announced it will take measures to mitigate the impact of gold trading on the Thai baht. Gold traders have proposed measures to encourage domestic gold trading in US dollars.
3. India's Ministry of Trade announced that India's gold imports reached $5.14 billion in August.
4. Canadian Prime Minister Mark Carney told Anglo American that he would not approve the Teck Resources Ltd. deal unless the company moved its headquarters to Canada.
5. The United States plans to expand its strategic uranium reserves to reduce its dependence on Russia and boost the prospects for nuclear energy.
6. The United States plans to include more steel and aluminum derivatives in tariffs.
7. According to Marubeni Corporation, aluminum inventories at major Japanese ports were 335,300 tons at the end of August, compared to 315,400 tons at the end of July.
Other:
1. Vietnam urged the United States to reconsider its seafood ban.
2. A senior US official announced that the two countries will announce over $10 billion in deals during US President Trump's visit to the UK. 3. US import tariffs on Japanese cars will be reduced to 15% starting at 12:01 AM Eastern Time on the 16th (1:01 PM Japan Time on the 16th).
4. Israel intensified its airstrikes on Gaza City, prompting US Secretary of State Rubio to travel to Qatar to mediate.
5. The Doha Arab-Islamic Summit announced a coordinated effort to suspend Israel's UN membership.
