US President Joe Biden will meet with European Council President Charles Michel and European Commission President Ursula von der Leyen in Washington for a summit. The EU and the US are expected to announce progress on the Global Arrangement on Sustainable Steel and Aluminum as an end-October negotiation deadline nears.

In shipping, Americas dirty tanker market participants expect to see elevated freight rates to start the week. Favorable US crude export economics, strong fourth-quarter seasonality, a patchy local position list and a 70% rise in VLCC rates last week have set the scene for continued bullishness.

The Electric Reliability Council of Texas Board of Directors will meet Tuesday to discuss how the power market performed during the summer. The board will discuss extreme price spikes, as well as a request for proposals for up to 3 GW of resources to mitigate any energy emergency risk for the winter of 2023-2024.

In oil, Suncor’s 137,000 b/d Montreal refinery will end a seven-week planned maintenance this weekend. The end of the turnaround could provide additional refined product supplies to the US East Coast, where stocks dipped 20% at the beginning of the month.

I’m Annette Hugh. Thanks for kicking off your Monday with S&P Global Commodity Insights.