Shanghai fuel oil futures just broke through the 3,200 yuan/ton mark, now trading at 3,206 yuan/ton, up 0.25% intraday; China's INE crude oil futures main contract just surpassed the 520.0 yuan/barrel mark, now at 520.1 yuan/barrel, up 2.26% intraday; US RBOB gasoline futures main contract just broke above $2.8900/gallon, now at $2.8906/gallon, a 2.75% intraday increase; US RBOB gasoline futures main contract also just surpassed $2.8800/gallon, now at $2.8854/gallon, up 2.57% intraday; Nymex US

The latest forecast from the IMF shows that global public debt will exceed 100% of GDP by 2029, two years earlier than previously expected. The IMF Managing Director issued a rare warning, specifically naming the United States’ debt path as “unsustainable” and pointing out that fiscal consolidation in various countries is seriously lagging. What's even more dangerous is that persistent inflation may force the Federal Reserve to continue raising interest rates, increasing financing costs and creating a vicious cycle of "high debt—high interest rates—even higher debt."

Samsung is betting on AI storage chip upgrades: next year, the production of the HBM4 series may at least double, with overall HBM monthly wafer input increasing by nearly 40%. The share of high-end product shipments will jump from 40% to 80%. Glass substrate demand will increase fivefold in two years, reflecting accelerated capacity expansion of advanced stacking technology, with supply chain orders simultaneously benefiting.