Turkey's central bank is widely expected to raise its key rate on Thursday in an effort to tackle inflation caused by the plunge in the national currency. The move could add to pressure on the construction industry, leaving cement plants in a difficult spot. This could reduce demand for petcoke, which is used as fuel by cement manufacturers.
An interest rate hike could also hit Turkish flour millers. New regulations mean exports of flour from the world's largest exporter must be made almost exclusively from imported rather than domestic wheat to keep a lid on prices in the country.
In oil, two reports are expected to provide fresh insights on the market: OPEC's and the International Energy Agency's reports will be available on Wednesday and Thursday, respectively.
Meanwhile, European gas traders will be keeping a close eye on the level of flows via Ukraine, which have remained low for the past month. Northwest European gas prices are surging on continued robust demand, with Russian flows via Ukraine the only realistic source of flexibility in the system.