Energy:
1. The European Commission will propose plans to raise import tariffs on Russian oil at an appropriate time.
2. Bulgarian Prime Minister: Bulgaria will end its natural gas shipments to Russia next year.
3. Turkey signed a 20-year LNG contract, accelerating its transition away from Russian gas dependence and toward energy diversification.
4. Russia's Ministry of Economy: Brent crude oil prices are expected to reach $70 per barrel between 2026 and 2027.
5. Oil exports through the Iraq-Turkey pipeline are about to resume.
6. Industry officials say cheaper Argentinian soybean oil may replace palm oil supplies in the short term.
7. Saudi Arabia's oil exports fell 0.7% year-on-year in July, while non-oil exports grew 30.4%.
Precious Metals and Mining:
1. The EU again urged the US to restart metal tariff negotiations.
2. London copper prices surged overnight due to the Grasberg mine disaster at McMoRan Copper & Gold. This incident may prompt the Indonesian government to intensify its efforts to seize mineral resources. 3. Goldman Sachs expects copper production at Indonesia's Grasberg mine to fall by 250,000 to 260,000 tons in 2025, down from its previous forecast of 700,000 tons.
4. UBS predicts that CATL's Jianxiawo production recovery will be faster than expected and has lowered its lithium price forecast.
5. JPMorgan Chase predicts that gold prices will continue to reach new highs, reaching at least $4,050 by the middle of next year.
Agricultural Products:
1. The Philippine Agriculture Minister stated that the President will extend the rice import ban.
2. The Trump administration plans to provide a new round of financial assistance to American farmers.
3. Argentina's Ministry of Finance announced that it will re-impose export taxes on grains and their by-products once exports reach $7 billion.
