IRAN'S PARLIAMENT SPEAKER SAYS NO TALKS HAVE BEEN HELD WITH U.S. -POST ON X

China Petroleum & Chemical Corp. set a flexible 2026 capex target of 131.6–148.6 billion yuan, down from 164.3 billion yuan, implying a potential cut of up to 20% after reporting a 34% drop in 2025 net income. The reduction will mainly hit chemicals. The refiner cited weak fuel demand, petrochemical oversupply and Middle East-driven cost pressures, while keeping output broadly stable and trimming sales targets.

REPSOL SHARES DOWN 12.2% AFTER TRUMP COMMENTS ON MIDDLE EAST CONFLICT