Brent crude fell $2.02 intraday to $74.60 a barrel, down 2.63%.

Italy's energy minister said he does not believe tensions with the United States will jeopardize Italy's liquefied natural gas (LNG) supplies.

Shanghai municipal science and technology commission, development and reform commission and other departments issued measures to speed commercialization and customs clearance of imported drugs for foreign biopharma companies. Overseas‑market drugs that obtain Chinese approval may place pre‑approval production batches on sale if they meet drug release requirements; authorities will provide enhanced business guidance and services. The plan integrates import sampling and testing and enables 24‑hour clearance facilitation to speed circulation of clinically urgent imports. Batch‑release testing for biologics and customs inspection for imported drugs will be accelerated: sampling must occur within 3 working days of arrival, and per‑batch sample volume is cut from 3x to 2x of the full‑item inspection amount.