Tidbits, BRICS Summit, Uruguay, Brazil, Biofuel, FOB 9/14/26
Tidbits
The three-day 18th BRICS Summit held in New Delhi, India concluded yesterday. Chinese President Xi Jinping urged member nations to help end the war in the Middle East, positioning the BRICS bloc as a force for global stability. Russian business envoy Kirill Dmitriev confirmed an agreement on the BRICS payment system has been reached to bring a financial clearing system within trading partners.
However, other issues of financial cooperation are also in focus. According to Dmitriev, the main goal is for the organization to be "not just a powerful geopolitical union, but also to have economic, investment, and financial solutions that unite the countries."
Fuel:
President Trump told Ukraine's President Zelenskiy yesterday to stop hitting Russian diesel fuel refineries! Trump’s comments come as Russia and Ukraine increasingly target each other’s energy infrastructure as the war continues. Saturday night, Ukrainian forces claimed strikes on refineries in southern Russia and Tatarstan, coming on top of previously reported attacks on the country’s Saratov oil refinery.
U.S. Energy Secretary Chris Wright cautioned oil traders on Sunday not to expect a breakthrough on the Strait of Hormuz as Iran plans to pitch other Gulf countries on a deal for passage through the energy chokepoint.
Want to read more?
Subscribe to wrightonthemarket.com to keep reading this exclusive post.
