Daily Global Commodity Market News Briefing

Zhitong
2025.10.17 08:15

Energy:

  1. Indian Ministry of External Affairs: India will stop purchasing Russian oil.

  2. Sources: India plans to reduce imports of liquefied petroleum gas from the Middle East and increase purchases from the United States.

  3. Brazilian Vice President Alckmin: Petroleo Brasileiro SA will sign new oil contracts with India.

  4. EIA Natural Gas Report: As of the week ending October 10, total U.S. natural gas inventories stood at 372.10 billion cubic feet, a year-on-year increase of 0.7%.

  5. Russian Deputy Prime Minister Novak: Confident in the stability of Russian oil exports to India, stating that the cooperation meets market demand and is economically mutually beneficial.

  6. Kremlin: Trump is trying to persuade some countries not to buy Russian oil, and Russia can offer high-quality oil to these countries at lower prices.

  7. Russian President Putin: Russia's oil production is expected to reach 510 million tons by 2025. The natural gas industry has not fully recovered but is showing growth. Efforts are being made to enhance Russia's natural gas export potential.

  8. According to Reuters, affected by the weakening of Brent crude oil and strong freight rates, the price of Russian Urals crude oil has fallen below the EU price cap of $47.60 per barrel for the first time.

Precious Metals and Mining:

  1. Chief Market Analyst at KCM Trade: Spot gold may reach $4,500 sooner than expected.

  2. Head of Research at the World Gold Council: The gold market is not yet saturated, and long-term macro support factors have not disappeared

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