Quick Overview

• The Mortgage Bankers Association's index of mortgage applications rose 9.5% last week, but fell 24% YoY.
  

• YoY Japan’s wholesale prices rose 7.2% in August
  

• The U.S. DOE said:
  Supplies of crude oil fell 5.9 million barrels to 289.0 million barrels.
  Supplies of gasoline fell 6.5 million barrels
  Supplies of heating oil rose 700,000 barrels.
  Refinery use fell from 88.7% to 78.3%
  Gasoline demand fell 2.1% YoY
  Distillate demand fell 0.4%.
  

• ED&F Man predicts that world sugar production will fall short of consumption by 700,000 tons in 2008-2009.