SunSirs: Energy Industries Bulk Commodity Intelligence (September 23, 2025)

Macroeconomics

1. [Federal Reserve] Federal Reserve Chairman Bostic believes there is little reason for further interest rate cuts and predicts only one rate cut in 2025.

2. [Turkey-US Tariffs] Turkey announced it would end the additional tariffs imposed on some US imports since 2018, including passenger cars and fruit. These tariffs were in retaliation for US tariffs imposed on Turkey during Trump's first term.

3. [Eurozone Consumer Confidence Index] The preliminary Eurozone consumer confidence index for September was -14.9, compared to an expected -15.0 and a previous reading of -15.5.

Energy

1. [Crude Oil] On September 22, international crude oil futures closed lower. The November contract for US WTI crude oil futures settled at $62.28 per barrel, down $0.12, or 0.2%. The December contract for Brent crude oil futures settled at $65.97 per barrel, down $0.07, or 0.1%.

2. [LNG] The EU plans to impose a complete ban on Russian liquefied natural gas (LNG) starting January 1, 2027, expand sanctions on Russian banks, and impose trade restrictions on Indian entities that assist Russia in circumventing sanctions. This move comes days after Trump called for increased pressure on Russian energy trade and significantly accelerates the planned phase-out of Russian fossil fuels by the end of 2027.

3. [Refined Oil] The current round of domestic refined oil price adjustments opened at midnight on September 23rd, and retail prices remain unchanged.

4. [Coking Coal] On September 22nd, the online auction price of high-sulfur coking coal in the Luliang market rose. The starting price for Liulin high-sulfur coking coal grades A10.5, S2.35-2.5, and G85 was 1,050 RMB/ton, and the average transaction price was 1,263 RMB/ton, a 60 RMB/ton increase from the previous period on September 16th.

5. [Petroleum Coke] On September 22, Qirun Petrochemical quoted petroleum coke 4A at 1,400 RMB/ton, down 30 RMB/ton from the previous trading day. The sulfur content was 4.3, and the vanadium content was 800-850. The delayed coking unit had an annual capacity of 1.6 million tons and a daily output of 700 tons.

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