Energy:
1. U.S. crude oil exports for the week ending September 12 were the highest since the week ending December 29, 2023, and EIA Strategic Petroleum Reserve inventories were the highest since the week ending October 7, 2022.
2. Following Ukraine's attacks on Baltic ports, Russia's weekly crude oil exports plummeted by 934,000 barrels, the largest weekly drop since July last year.
3. Australian Prime Minister Albanese announced a A$5 billion net zero emissions fund within the National Reconstruction Fund. A$2 billion will be allocated to the Clean Energy Finance Corporation to continue to increase downward pressure on electricity prices.
4. Poland's Energy Minister stated that Poland is prepared to support EU member states in continuing to purchase Russian energy.
5. NYK plans to expand its LNG fleet to meet rising global demand.
Precious Metals and Mining:
1. Market News: Ghana is close to finalizing gold export price hedging.
2. Thailand's new Deputy Finance Minister stated that they are monitoring gold trading for any unusual activity. 3. "New Bond King" Gundlach: Gold prices will "almost certainly" close above $4,000 by year-end.
4. Deutsche Bank: Raised its gold price forecast for next year to $4,000 per ounce (previously $3,700 per ounce) and its silver price forecast for next year to $45 per ounce (previously $40).
Other:
1. The Federal Reserve cut interest rates by 25 basis points at its September meeting as expected. The median dot plot suggests a cumulative three rate cuts this year and one next year.
2. Source: Euronext is considering expanding trading hours for agricultural futures to attract more US capital flows.
3. Russian grain exports have started weakly, and officials are holding multiple rounds of talks with traders to boost them.
