Dan Jørgensen, the European Commissioner for Energy, has called on EU governments to continue to curb energy demand in order to reduce gas and electricity consumption against the backdrop of ‘exceptionally low’ storage levels.
In Cuba, it is believed that US sanctions are hindering the country’s transition to a market economy.
US President Donald Trump stated that 25,000 people were killed last month in Russia’s war against Ukraine, and a further 32,000 the month before.
Gold futures rose by 0.7 per cent on Friday, though for the week as a whole, the metal is down by around 2 per cent amid expectations of further interest rate rises in the US. December contracts closed at around $4,320 per troy ounce.
Moldova is introducing additional measures to protect domestic fuel stocks during the state of emergency. The export and re-export of petrol and diesel from the Giurgiulești International Free Port will only be permitted in volumes exceeding the country’s established minimum stock levels.
Wheat futures on the Chicago Board of Trade (CBOT) fell by 2.1 per cent on Friday, 25 September. The price of December wheat contracts fell to $6.925 per bushel. For the week as a whole, the contracts may lose around 2.4 per cent in value. It is clear that wheat prices have fallen to their lowest level this month.
Turkey’s state-owned oil company, TPAO, has applied for a licence to develop and extract oil from the new field in the Black Sea. This is evidenced by a publication by the General Directorate of Mining and Petroleum Affairs under the Turkish Ministry of Energy and Natural Resources in the government gazette Resmigazete.
The Japanese company unveiled a prototype of the new model at the Sea Otter Europe exhibition in Girona, Spain. Honda plans to launch the production bike in 2027, starting with Europe.
In its September Interim Economic Outlook report, the OECD revised its forecast for global GDP growth in 2026 upwards to 2.9 per cent (compared with 2.8 per cent in June), noting the strong resilience of the major economies thanks to large-scale investment in the artificial intelligence sector. At the same time, the forecast for 2027 was revised downwards to 3 per cent (a decrease of 0.1 percentage points) against a backdrop of persistent inflationary pressures and debt burdens.
Turkey expects to double its natural gas production in the Black Sea – from 10 million to 20 million cubic metres per day. The additional volume will be provided by the new Osman Gazi floating platform, which is scheduled to be deployed to the Sakarya field at the end of October.
