At the close, NYMEX July light sweet crude futures settled up $2.26 at $96.02/bbl, +2.41%; ICE Brent August futures settled up $1.81 at $97.81/bbl, +1.89%.

Hudian shares jumped to the daily limit intraday after market reports it won a large share of server orders from an overseas AI vendor; the company declined to confirm customer identities. Hudian said operations are stable and projects are proceeding normally, and it expects order volumes to be relatively sufficient through 2027. The company reports 1.6T switch motherboards are in mass production, 3.2T products are advancing steadily, and its Thailand plant is now running above 90% capacity as overseas capacity rollout continues. On full-year revenue guidance, Hudian advised investors to use first-quarter operating data as a reference.

Sources say India is expected to announce measures this week to attract foreign bond capital by cutting taxes and lifting some holding caps. The cabinet will discuss on Wednesday a large reduction in taxes paid by global funds on Indian bonds and consider abolishing or sharply lowering a 20% tax on bond interest. The Reserve Bank of India may designate some long-term sovereign bonds as fully tradable, allowing overseas investors to buy them without limits.