BOC Governor Macklem said ongoing Middle East conflict is keeping energy prices elevated, raising upside risks to the inf outlook.

Mexico's main stock index fell 1.5%.

Iraq’s crude exports rose in August after producers offered deep discounts and Iran approved passage for multiple Iraqi tankers through the Strait of Hormuz, industry and shipping sources said, with shipments expected to increase in September. Preliminary Kpler data show August exports rose for a third month to 2.17 mln bpd from 1.322 mln bpd in July; Kpler recorded February at 3.362 mln bpd. Ship-tracking firm Vortexa’s preliminary August estimate was 2.30 mln bpd versus July’s 1.60 mln bpd, still below February’s 3.70 mln bpd. Sparta Commodities senior analyst June Goh said Iraq’s deep discounts are prompting buyers to find transport routes to move cargoes. Iran’s state news agency IRNA reported Tehran has approved several Iraqi tankers to transit the Strait of Hormuz; it is unclear whether the permission covers all Iraqi cargoes, and Iraq appears to be the only Gulf producer explicitly granted transit approval.