
The US Treasury Secretary Scott Bessent urged European allies, particularly France and Germany, to immediately release strategic diesel reserves to address soaring global fuel prices linked to the US war on Iran, with EU member states set to discuss a coordinated response on Friday.
AI-generated summary
Global diesel prices have risen sharply, reportedly due to the US war on Iran, prompting the US to urge European allies to release strategic reserves to mitigate the increase.
The US on Thursday told its European allies to help lower global diesel prices by releasing strategic reserves “immediately,” with EU member states due to discuss the crisis on Friday.
Reports said the Trump administration wants France and Germany in particular to tap their stockpiles of diesel to try to curb prices sent soaring by the US war on Iran.
“Our European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions,” US Treasury Secretary Scott Bessent said in a post on social media.
EU member states will meet with the European Commission on Friday to discuss a coordinated response to soaring fuel prices, a commission spokesman said.
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EU member states will agree to release additional diesel reserves following Friday's meeting
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The Bureau of Labor Fund Utilization announced the latest performance. As of the end of August this year, the labor fund earned 2.3227 trillion yuan, with a yield of 29.45%, which was twice the full-year income last year. In August, the Taiwan stock market soared more than 3,000 points and returned to 46,000 points, and the fund turned from a loss to a profit. The average dividend per person under the new labor system was 123,900 yuan, a record high.

Data released by the U.S. housing finance institution Freddie Mac on October 1 showed that the average interest rate on 30-year fixed mortgages rose to 7.28%, the highest since November 22, 2023. Interest rates have risen for six consecutive weeks. The trend is obviously affected by the war in Iran. The number of loan applications has declined for four consecutive weeks. The downturn in the real estate market may continue.
During the National Day holiday, Shenzhen Yantian Port launched a non-stop operation mode. Domestic products such as lamps, clothing, and shoes were inspected and shipped for export to global markets such as the United States, Mexico, and the Netherlands. With its efficient loading and unloading, fast customs clearance and dense air routes, Yantian Port has become an important channel for domestic goods to go to sea. In the first eight months, Shenzhen exported 4.6 million TEUs, a year-on-year increase of 7.5%.

According to the Allianz Group's 2026 Global Wealth Report, Taiwan's per capita financial assets reached 164,470 euros (approximately NT$5.95 million), ranking fifth in the world and second in Asia, second only to the United States, Switzerland, Denmark and Singapore. The report pointed out that in 2025, the total financial assets of Taiwanese households will increase by 8.7% annually to reach 4.5 trillion euros, and securities assets will grow by 17.7%, accounting for 34.9% of household assets, which is higher than the Asian average of 30.8%. Real growth after deducting inflation was 6.9%, with a cumulative growth rate of 41.5% since 2019, higher than the Asian and global averages. Allianz warns that slowing global economic growth, stagnant inflation and geopolitical fragmentation are the three major risks from 2026 to 2027, and AI will be the biggest variable in the future direction of wealth.

The first wave of Shin Kong Mitsukoshi's anniversary celebrations was led by six branches. On the first day, the sales reached NT$1.55 billion, and the number of customers exceeded 145,000. Highlights of the event include free points for purchasing cosmetics and co-branded products for Pokémon's 30th anniversary, which have driven the three major needs of starting a family, replacing a new phone, and self-rewarding. Home appliances, 3C, beauty, and clothing all grew at double digits.

U.S. stocks closed slightly higher on Thursday, with the S&P 500 rising 0.19%, the Nasdaq rising 0.04%, and the Dow Jones rising 0.04%. U.S. bond yields fell from multi-year highs, Federal Reserve Vice Chairman Thomas Jefferson signaled that he may remain patient, and weaker-than-expected inflation data on Wednesday lowered expectations for an October interest rate hike. West Texas crude oil futures rose 2.7%, Micron's stock price rose 3% due to better-than-expected financial forecasts and increased customer financial commitments, Huida rose 1.09%, and AMD rose 0.65%. The Philadelphia Semiconductor Index rose 1.59%, and TSMC ADR rose 0.66%.