WTI crude down 3.0% intraday to $74.93/bbl.

Evonik will extend its Evonik Custom efficiency programme and plans to cut about 3,200 positions worldwide, roughly 2,150 of them in Germany. The measures are scheduled to start in 2027 and run through end-2029. On June 22 Evonik confirmed non-Germany cuts total about 1,050, including China, but gave no country-level breakdown. The programme, launched in October 2023 with an initial target to remove about 2,800 roles by end-2026, was said by the company in May to be on track to meet its cost-reduction goals.

U.S. Vice President Vance, speaking in Switzerland, said negotiations with Iran are progressing smoothly with significant positive steps and that technical talks will continue over the coming days and weeks. He said Iran has agreed to invite IAEA inspectors to return; inspectors could begin work this week, possibly today. Vance said President Trump would respond if Iran issues falsehoods. Vance also said a Lebanon conflict de‑escalation mechanism has been established to curb hostilities — including hopes Hezbollah will stop firing into Israel — while respecting Lebanese sovereignty and coordinating appropriately. He added a mechanism to keep the Strait of Hormuz open is in place and that the waterway is currently open, and said these steps aim to help secure a regional ceasefire and lay groundwork for a final agreement.