USGS said a magnitude-5.2 earthquake struck 42 km SSW of Jurm, Afghanistan.

SHFE silver 2608 tumbled intraday, widening losses to 6.03% and hitting 15,754 yuan/kg; turnover exceeded CNY45.3 billion, open interest rose by more than 5,800 contracts and intraday volatility increased.

Iraq’s deputy minister for upstream affairs said Baghdad plans to gradually restore crude output to 4.2–4.3 mln bpd. ANZ expects an initial recovery in the first four weeks of roughly 2.0–3.0 mln bpd. Recovery remains uncertain: ANZ sees a possible 2.0–3.5 mln bpd restoration by Q3 2026, conditional on market stability, while a further 1.0–2.0 mln bpd of supply could be permanently or semi-permanently lost. ANZ added early gains will come mainly from logistics (transport), not production; later output depends on upstream wells and refinery restarts. Full restoration is unlikely this year.