The Federal Reserve will release the minutes of its monetary policy meeting in ten minutes.

Crude oil: 1. BP and Libya's National Oil Corporation signed a memorandum of understanding to explore the possibility of redeveloping Libya's large oil fields. 2. India plans to import about 10% of its cooking liquefied petroleum gas (LPG) from the United States each year starting in 2026. 3. Commerzbank: Brent crude oil prices are expected to fall to $65 per barrel due to oversupply in the fall. 4. Indonesia's Chief Economic Minister: Indonesia's national oil company Pertamina has signed a memorandum of understanding with the United States on the purchase of liquefied petroleum gas, gasoline and crude oil. 5. The EIA Short-Term Energy Outlook report raised its expectations for US and Brent oil prices this year, and slightly lowered its price expectations for next year. Natural gas: 1. The European Parliament approved an agreement to relax natural gas storage rules. Precious metals and mining: 1. Trump: A 50% tariff will be imposed on imported copper. US Secretary of Commerce: Copper tariffs will be implemented in late July or August 1. 2. U.S. copper prices surged to a record high of $5.8955/lb on Tuesday. 3. Indonesian Mining Association: U.S. tariffs may have limited direct impact on Indonesian coal and mineral exports. 4. PwC: By 2035, one-third of chip production may face copper supply disruptions. 5. Ghana approves 300 companies to buy gold from small mines. 6. World Gold Council: Global gold ETFs inflows of $38 billion in the first half of the year, with average daily trading volume setting a half-year record. 7. Citi: Adjusted expectations for COMEX-LME arbitrage to 25-35% of LME, or $2,300-3,300/ton (previously expected to be 15-20%). In 0-3 months, (copper tariffs) should cause copper prices outside the United States to retreat to $8,800/ton. 8. Australian Mining and Energy Union: Work at Glencore's Wulan underground mine has stopped this afternoon as members began a 24-hour strike. 9. Goldman Sachs: Maintains its LME copper price forecast of $9,700/ton at the end of this year, adjusts the baseline forecast of US copper import tariffs from the previous 25% to 50%, and believes that the risk of copper prices exceeding $10,000 in the third quarter has been reduced. US copper imports will further accelerate in the coming weeks as the motivation to respond to tariffs in advance has increased. Others: 1. Vietnamese government: Vietnam and Indonesia agree to sign a rice trade agreement. 2. Trump: Tariffs will be imposed on August 1, 2025. There will be no change to the deadline and no extension will be given. 3. Japanese Minister of Economic Revitalization Ryomasa Akazawa: There is no point in reaching an agreement with the United States without an agreement on automobile tariffs. Japan's agricultural sector will never be sacrificed for a trade agreement with the United States. 4. Deputy Minister of Trade of Vietnam: Clothing, electronics and auto parts manufacturers face US tariffs. Tariffs provide an opportunity for manufacturers to increase added value, and the Ministry of Commerce is coordinating with companies to develop measures to deal with tariffs. 5. Malaysian Trade Minister: So far, the United States has not imposed an additional 10% tariff on countries allied with the BRICS. It is unclear why the tariff rate was raised from the initial 24%, and this must be asked to the US Trade Representative. The transactions discussed with the United States involve semiconductors, technology and trade.

RBA Deputy Governor Hauser: The RBA will update its research strategy and set new priorities.