On Wednesday, diesel prices stayed high as restrictions on refined-product supplies continued to exert upward pressure on fuel markets across the United States and Europe. U.S. ultra-low sulfur diesel futures surged 7.4% on Monday, closing at $4.19 a gallon, marking their largest single-day increase since July 13. Early Wednesday trading pushed the contract close to $4.28 a gallon, while European diesel refining margins remained at historically elevated levels after nearly a 10% rise on Monday. Diesel prices remain elevated as tight US and European fuel supplies pressure markets.

Gold extended its upward movement for a third consecutive session on Tuesday, building on last week’s sharp rebound. The spot price increased by 1% to $4,432.74 an ounce by 0217 GMT, reaching its highest level since June 5 and surpassing the seven-week peak hit last week. Meanwhile, U.S. gold futures rose 1.7% to $4,492.60. The gains followed positive momentum on Friday and Monday, as global bullion markets reacted to U.S. economic indicators and interest rate expectations.

Official figures reveal that Denmark’s annual consumer price inflation decreased to 1.7% in July from 1.9% in June. According to Statistics Denmark, the consumer price index increased by 1.3% compared to June. The core inflation rate remained steady at 2.3%, showing no change from the previous month. The most significant overall contribution to July’s inflation came from restaurants and hotels, primarily driven by rising holiday home rental prices within that sector.

Europe’s extreme heat and drought are adding new pressure to the EU economy in 2026. Triodos Bank examined four primary pathways: labor productivity, agriculture, energy production, and transport and logistics. The analysis indicates that a decline in labor productivity could decrease EU GDP by about 0.6%, making it the most significant single factor. The bank also projects EU agricultural output to fall between 3% and 7% due to the impacts of heat and drought. Additionally, reductions in power generation, rising electricity prices, and disruptions to transport contribute further to the anticipated economic losses across Europe.

Data from Korea Agro-Fisheries & Food Trade Corp. indicated that spinach reached 1,978 won per 100 grams on Aug. 7, marking a 152.3% rise from the previous month. Meanwhile, ten cucumbers sold for 8,313 won, a 54.8% increase. Blue lettuce saw a 41.7% jump, and zucchini prices climbed 46.6% to 1,504 won. Record heat is disrupting farms, fisheries and food supplies across South Korea. The Ministry of Agriculture, Food and Rural Affairs attributed these price hikes to persistent high temperatures impacting heat-sensitive vegetables. Crops like spinach, cucumbers, and zucchini tend to grow better in cooler conditions, but extreme heat can impede their development and reduce harvestable yields.

The European Commission finalized a major expansion of the European Union’s flagship orbital communications network on Friday, concluding months of commercial negotiations with the SpaceRISE industrial consortium. Under a newly signed implementation agreement, the Infrastructure for Resilience, Interconnectivity and Security by Satellite (IRIS²) program transitions from planning into full-scale industrial deployment. The formal agreement expands the planned satellite network to 348 spacecraft to strengthen sovereign connectivity, defense, and emergency response capabilities across member states.