China's total electricity consumption rose 6.9% YoY in May, up from 6.0% in April.

Kremlin aide says new Ukrainian strike on Russia did not bring the Russian and Ukrainian presidents any closer personally.

Ceasefire reports between the US and Iran reduced the geopolitical risk premium, knocking international crude lower and deepening China’s negative crude-price adjustment rate. At 24:00 on June 18, national retail price caps were cut by 515 yuan/tonne for gasoline and 495 yuan/tonne for diesel; per-litre cuts: 92# gasoline -0.40 yuan, 95# -0.43 yuan, 0# diesel -0.42 yuan. With global supply rising and oversupply concerns weighing on prices, oil may drift lower near term; a new negative crude adjustment cycle would correspond to a first-day cut of 500 yuan/tonne, next pricing window 24:00 on July 3.