Energy:
1. Trump: We need to lower oil prices further. If we lower oil prices, the (Russia-Ukraine) conflict will be over.
2. Market News: The Trump administration is seeking to cancel an offshore wind power project off its southern coast.
3. Data shows that Russia's seaborne exports of petroleum products increased 8.9% month-on-month in August.
4. Russia's Finance Minister: When formulating the budget, we plan to lower the threshold for oil and gas revenue composition. From now until 2030, we plan to reduce the current $60 per barrel oil benchmark by $1 per year.
5. Reuters calculations show that due to falling oil and gas prices and the appreciation of the ruble, Russia's oil and gas revenues in September will fall by approximately 23% compared to the same period last year.
6. Source: Qatar has raised the price of crude oil from the Al Shaheen oil field to $3.61 per barrel in October.
7. Hungary's State Secretary for Energy: Hungary has not changed its position on accelerating the phase-out of Russian oil and gas.
8. Kuwait's Oil Minister: Oil demand is expected to increase after the US interest rate cut, particularly from Asia. If Russian oil is sanctioned, it is expected to have a positive impact on oil prices.
9. Colombia's Ecopetrol: The company will complete its 2025 drilling target ahead of schedule and may exceed its production target.
10. The Panama Canal Authority: The natural gas pipeline project will provide the Panama Canal with $1 billion to $1.2 billion in annual revenue. The Panama Canal expects to generate $3.5 billion in profits in the fiscal year ending in September.
11. Sources familiar with the matter: The EU plans to phase out Russian liquefied natural gas more quickly.
Precious Metals and Mining:
1. Customs data showed that Swiss gold exports to the US plummeted by over 99% in August from the previous month to 0.3 tons.
2. The Bank of Thailand: There are no plans to introduce a gold tax in the near future.
3. Goldman Sachs: Lithium prices are expected to fall to an average of $8,900 per ton in 2026, slightly below the current spot price of $9,150 per ton. Lithium prices are expected to rise slightly to an average of $9,100 to $9,500 per ton in 2027/28.
Agricultural Products:
1. Canada ended its fight against US lumber tariffs and is seeking a broader agreement.
2. According to Interfax, Russia has harvested 114 million tons of grain.
3. Bank of Japan Governor Kazuo Ueda stated that the impact of rising food prices, including rice, is likely to fade.
4. Malaysia raised its October crude palm oil reference price, while maintaining its export tax at 10%.
Other:
1. Market News: The EU will propose new sanctions against Russia as early as this week.
2. Sources say the UAE may downgrade its relations with Israel if the Israeli government announces annexation of the West Bank. The UAE may withdraw its ambassador as a result, but is not considering a complete severance of ties.
