Oil Demand Surges in China Amid Global Price Volatility

China's oil demand has rebounded, sending Shanghai crude above $100 per barrel at a premium to Brent. According to Bloomberg, increased Chinese purchases from multiple regions amid reduced Iranian supply may reflect tactical restocking rather than broad underlying demand recovery.

The US national average gasoline prices reached $4.15 per gallon, the first Labor Day above $4. Central banks purchased a net 23 tonnes of gold in July, according to the World Gold Council, led by China and Poland.

Meanwhile, London copper futures exceeded $14,000 per ton. Hackers drained approximately 4,000 BTC from the multisig treasury supporting L-BTC on Blockstream's Liquid Network, but returned most of the funds after a patch was provided.