SunSirs: Energy Industries Bulk Commodity Intelligence (September 1, 2025)

Macroeconomics

1. [PMI] National Bureau of Statistics: In August, the Manufacturing Purchasing Managers' Index (PMI) was 49.4%, up 0.1 percentage point from the previous month, indicating some improvement in the manufacturing sector's business sentiment.

2. [BCI] In August 2025, the Sino-US Commodity Supply and Demand Index (BCI) was 0.00, with an average increase of -0.22%.

3. [US PCE Price Index] The US core PCE price index rose 2.9% year-on-year in July, the highest since February 2025, in line with expectations of a 2.9% increase and the previous reading of 2.8%. It also rose 0.3% month-on-month, in line with expectations and the previous reading.

4. [US Consumer Confidence Index] Due to continued concerns about tariffs, the US consumer confidence index fell to a three-month low. A survey released by the University of Michigan showed that the final reading of the University of Michigan Consumer Confidence Index in August fell from 61.7 in July to 58.2, lower than the initial reading of 58.6.

Energy

1. [Crude Oil] On August 29, international crude oil futures closed lower. The October contract for U.S. WTI crude oil futures settled at $64.01 per barrel, down $0.59, or 0.9%. The November contract for Brent crude oil futures settled at $67.48 per barrel, down $0.50, or 0.7%.

2. [Crude Oil] The Norwegian Maritime Administration announced that Equinor, a Norwegian oil and gas company, has confirmed oil and gas resources in its initial exploration well, 6506/12-PB-3 H. Preliminary estimates indicate that the discovery holds recoverable reserves of 1 to 3 million standard cubic meters of oil equivalent, equivalent to 6.3 to 18.9 million barrels of recoverable oil equivalent. 3. [Fuel Oil] Data from Enterprise Singapore (ESG) showed that Singapore's fuel oil inventories increased by 1.689 million barrels to a three-week high of 24.724 million barrels in the week ending August 27. Middle distillate inventories decreased by 366,000 barrels to a two-week low of 9.331 million barrels, while light distillate inventories decreased by 1.669 million barrels to a three-week low of 13.485 million barrels.

4. [Coking Coal] According to data from the long-term coking coal-steel linkage scheme, the floating value of the long-term coking coal-steel linkage in August 2025 increased by 155 RMB/ton, or 12.4%, compared to July.

5. [Petroleum Coke] On August 29, Wantong Petrochemical's petroleum coke was quoted at 2,360 RMB/ton, up 10 RMB/ton from the previous trading day. The sulfur content was 3.0, the vanadium content was 300, and the delayed coking unit had a capacity of 1.2 million tons/year and a daily output of 850 tons.

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