Senior Deputy Governor of the Bank of Korea: Currently, inflation in South Korea is driven by both demand and supply factors.

At midday close, China's main front-month futures were mixed: low-sulfur fuel oil (LU) and fuel oil rose over 6%, SC crude neared 6% gains, coking coal gained more than 5%; methanol and propylene rose over 4%, and LPG and soda ash were up around 4%. On the downside, Europe-route container freight fell more than 4%, eggs and pulp dropped over 2%, urea, Shanghai tin and coated paper just fell above 1%, and platinum slipped about 1%.

1. Reaffirms US Control of the Strait – Trump: The United States effectively controls the Strait of Hormuz and has cleared Iranian mines from this strategic oil waterway. 2. Claims Three US Strategies Against Iran —Trump: The United States has three “strategies” against Iran: monitoring its situation, launching a strong attack, and applying economic pressure. The United States controls a large amount of Iranian funds and assets, “which are entirely under our control.” 3. Only One Communication with Warsh – US President Trump stated on Monday that he and Federal Reserve Chairman Warsh have only had one “brief” conversation since Warsh took office, denying claims of frequent communication between the two sides. 4. Demands Compensation from Iran as well —Trump: I now also demand compensation from Iran for the casualties caused in numerous conflicts, and for the families of protesters whose lives were destroyed by Iran over the past 50 years. I have instructed US representatives to formally raise these compensation demands in all future negotiations. 5. Trump Did Not Depart from Turkey on Air Force One —After attending the NATO summit in Turkey in early July, US President Trump secretly departed on an Air Force C-32A after receiving credible assassination threats, instead of actually boarding the old presidential plane, Air Force One. 6. Trump Supports Infantino—Trump: If FIFA considers replacing President Infantino for any reason, it would be a huge mistake. He has done an excellent job, just successfully hosting the most successful World Cup in history. 7. Trump Revokes Over 175,000 Foreign Visas —According to The Hill, the Trump administration announced the revocation of over 175,000 visas for foreign citizens, citing reasons including involvement in criminal activity, visa violations, and making violent statements against US citizens. 8. Extends Jones Act Shipping Exemption for 90 Days—US President Trump: The Jones Act shipping exemption has been extended for 90 days, while the scope of the exemption has been narrowed. The exemption now limits shipping to energy goods and fertilizers.