Fed's MUSALEM said core inflation at 2.5%-3% is too high and must be reduced.

By the midday close onshore front‑month futures were mostly higher: Shanghai silver and platinum rose over 4%; bitumen gained about 3%; Shanghai gold, 20# rubber, palladium, polysilicon and rapeseed oil advanced more than 2%; palm oil was up nearly 2%. Laggers included low‑sulfur fuel oil (LU), monthly‑average plastics, iron ore and PTA, each down over 1%.

Germany's Economy Ministry said gas storage of 60–70% at the start of winter, together with additional import capacity, would typically suffice to meet average winter demand, implying limited buffer against supply disruptions for Europe's largest energy consumer. The ministry added the government is able and will act if energy security is threatened. Disruptions to gas flows from the Middle East this year and a reduced incentive for utilities and traders to stockpile have left Europe struggling to refill reserves. EU storage is just above 61% — the lowest for the season since records began in 2009 — while Germany's facilities are around 50% full.