MOODY'S RATINGS CHANGES NINE CHINESE INSURERS' OUTLOOKS TO STABLE FROM NEGATIVE FOLLOWING SOVEREIGN RATING ACTION, AFFIRMS RATINGS

S&P GLOBAL: JP MORGAN RAISES TARGET PRICE TO $550 FROM $530

The U.S. Department of the Treasury warned financial institutions of sanctions risks tied to Chinese refiners processing Iranian crude, signaling potential secondary sanctions. The Office of Foreign Assets Control said smaller private refiners, particularly in Shandong, face blacklisting exposure. The move increases pressure on Iran and could heighten tensions with China ahead of a planned summit between Donald Trump and Xi Jinping. The US also sanctioned 35 entities linked to Iran’s shadow banking network and warned against payments tied to transit through the Strait of Hormuz.