"...Chinese refiners reportedly ban October fuel exports..."

Meanwhile Russia has extended its ban on diesel exports...hmmm. Not saying it's coordinated but...

From CNDC, October 1: 

• Oil prices reversed earlier losses to jump more than 2% on Thursday, with Brent topping $100 a barrel.
• It comes after a report that Chinese refiners suspended October fuel exports to protect domestic supplies.
• Global energy markets remain constrained by the U.S.-Iran war and Russia’s war in Ukraine.

Oil prices rose on Thursday, reversing earlier losses, following a report that Chinese refiners have suspended October fuel exports, further squeezing war-constrained energy markets.

International benchmark Brent crude with December expiry was last seen trading 2.4% higher at $100.36 per barrel, having earlier traded 1% lower, while U.S. West Texas Intermediate futures with November expiry rose 2.5% to $92.70.

Reuters reported that China’s state oil major PetroChina canceled a handful of gasoline and jet fuel shipments that were planned for October, citing multiple unnamed sources, as Beijing looks to safeguard domestic supplies. CNBC could not independently verify the report.

Global energy markets have been grappling with supply disruptions from the U.S.-Iran war in the Middle East and Russia’s full-scale invasion of Ukraine.

Oil prices had moved higher earlier in the session as investors parsed a recovery in Middle East crude exports.

UOB in a note Thursday said that crude flows from Middle East were reportedly nearing pre-war levels, but fuel supplies, particularly gasoline, were lagging behind....

....MUCH MORE
*And at OilPrice, September 30:

 Russia Extends Diesel Export Ban Through Oct. 31

World Bond Markets Hit Again, Analysts React

From Reuters, October 1: 

VIEW Bond markets take a drubbing again, 10-year Treasury yields highest since 2002. 

Borrowing costs from the US to France, Britain and Japan hit their highest in decades on Thursday, squeezing already pressured government finances, and threatening stocks, credit and other global assets.

The 10-year US Treasury yield, a yardstick for borrowing costs and ​asset prices globally, rose to 5.34%, its highest since 2002. 

COMMENTS:

TIMOTHY GRAF, HEAD OF MACRO STRATEGY FOR EMEA, STATE ‌STREET:

"I don't think there's a specific trigger. Moves like today feel like positions have been stopped out. If you look at energy prices, they are contained. But the reasons why we (yields) are here is clear - central bank rates are going up."

 

"French OATs are getting beaten up because it's budget time ​and it's messy. Italian bonds are also getting whacked."

 

FRED NEUMANN, CHIEF ASIA ECONOMIST, HSBC:

"There is more than inflation that ​has bond investors worried these days. Even a milder US inflation print, therefore, is not enough ⁠to turn the narrative. Beyond stubborn price pressures, large government deficits and enormous funding demand from the AI sector are also ​pressuring interest rates higher."

 

"Meanwhile, there are lingering doubts whether central banks will ever get ahead of the curve on inflation and bring ​it swiftly and sustainably back to target."

 

"The economic and political realities of highly imbalanced growth make it tough for monetary officials to deliver rapid and determined monetary tightening that would help to anchor bond markets."

 

"It would be unfair to lay the blame entirely on central bankers: in the end, it ​is expansionary fiscal policies that are equally to blame for persistent inflation. Plus, the demand for long-term capital has increased thanks ​to the AI boom, which marks a structural shift from the pre-pandemic period when the world was awash with surplus savings."

 

"Higher bond yields may ‌well ⁠be the new normal, and financial markets are in the midst of a discovery process to see where the new long-term anchor sits. A slight upside or downside surprise in a single inflation reading is thus not going to reestablish calmness in itself. It is a necessary, but hardly a sufficient condition to bring yields back down swiftly."

 

FIONA CINCOTTA, SENIOR MARKET ANALYST, CITY INDEX:

"The only way ​really I can see the ​market being calmed here is ⁠if we do see governments taking the hard decisions to cut spending and it doesn’t look like that is going to happen."

" I don’t think there has been a whiff of that ​from the (UK)Labour party conference, there hasn’t really been a sense that that is on the agenda ​and again in ⁠France quite the opposite, with the populist parties gaining traction, more spending may be coming."....

....MORE 

"French PM to present belt-tightening 2027 budget, including frozen wages and new taxes"

From France24, October 1: 

French Prime ​Minister ‌Sébastien Lecornu ⁠is due on Thursday to present a belt-tightening government budget for 2027, with savings predicted to come from freezing wages in the public sector and all but the lowest ‌pensions. A series of targeted tax measures, including on income revenues and VAT, are expected as well.  

France is due to present its 2027 budget bill on Thursday after 0930 GMT, seeking to enact unpopular belt-tightening measures that can lower its deficit and appease increasingly twitchy bond investors ​ahead of ‌next year’s presidential election.

As has become common in France, where the two ⁠previous prime ministers were toppled over their austerity plans, the legislation faces a tough ride in a deeply divided parliament, as political clans position themselves ‌for one of the country’s most consequential elections in modern times.

The vote is ⁠due to take place on April 18-May 2, with far-right leader Marine Le Pen far ahead in the polls amid a growing backlash against President Emmanuel Macron’s centrist legacy.

According to a plan seen by AFP, the government hopes to reduce the country’s ballooning deficit with €43 billion in "recovery measures”.....

....MUCH MORE 

Lecornu seems to be the only person in the French government that is taking the debt and deficit seriously.