Daily Update — October 9, 2026
AI Boom Tests Net-Zero; Europe Considers Fuel Dependencies; and Inflation Expected to Rise
Today is Friday, October 9, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Expansion
Listen: AI's power boom tests Big Tech's net-zero promises
In this episode of the “Energy Evolution” podcast, host Camilla Naschert turned the spotlight on Big Tech as part of S&P Global Energy's annual series examining how the world's largest companies are faring on their paths to net-zero emissions.
The AI infrastructure boom has driven the sector's energy demand and carbon footprint to new heights. In a survey of the top 30 IT companies by market capitalization, S&P Global Market Intelligence tech reporter Stefan Modrich found genuine ambition sitting uneasily alongside a commercial race to secure power at any cost.
Senior reporter Karin Rives completed the picture from the utility side. Five years into her survey of the 30 largest US electric utilities, she found that two-thirds are not on pace to meet their climate goals, have delayed these goals or have scrapped them entirely. Some companies cited reliability and affordability as justification, while others are proceeding with new gas capacity to keep pace with heightened electricity demand.
Global Trade
European markets rattled by near miss on US diesel export ban
After weeks of insecurity over the possibility of a US ban on diesel exports, Europe appeared to avoid the risk of a potential embargo on Oct. 2, when G7 members announced their committment to preserving the free trade of energy and accelerating stock releases. Still, US President Donald Trump’s earlier suggestions to restrict exports have triggered new concern from Europe over the stability of its most important energy partnerships, officials and market stakeholders said.
"The possibility of an embargo on diesel exports is something that if somebody said it two years ago, they would be taken to hospital," Václav Bartuška, the Czech Republic’s UK ambassador, said Oct. 6 at the Energy Intelligence Forum in London. Bartuška warned that the bloc "will most likely not be able to import it [diesel] from anywhere if things get really bad."
Economy
Global PMI shows inflation set to heat up further as energy fuels higher prices
Worldwide inflation remained elevated around midyear and looks set to rise further in the coming months, according to S&P Global’s Purchasing Managers’ Index (PMI) survey data, produced at the global level on behalf of J.P. Morgan.
The latest official data points to global consumer prices rising at an annual 3.7% rate in August, compared with a pre-pandemic decade average of 2.7%. Leading indicators from the PMI data hint that inflation could breach 4% in the near term and stay elevated into the new year. Measured across both goods and services, the PMIs showed that September’s average prices are below the levels of the four months to July, but have accelerated to become the fifth-largest increase since February 2023.
In case you missed it
- Global manufacturing output rose in September at its fastest rate since July 2021, reflecting production growth in 22 of the 33 countries covered by the S&P Global’s Purchasing Managers’ Index surveys.
- Utilities are adjusting to a nationwide backlash to data center development as residential electricity bills surge ahead of US federal, state and local elections in November.
- Europe should be able to adequately navigate the coming winter if weather proves mild, even with gas stocks lagging the levels of prior years, Equinor CEO Anders Opedal told Platts, part of S&P Global Energy.
Upcoming events
- Powering APAC’s AI Infrastructure Future | October 14 (Webinar)
- Compass Series 2026, Baltics: Mapping Energy Expansion with Sustainability | October 22 (Riga, Latvia)
- Africa Summit 2026 | November 10-11 (Lagos, Nigeria)