Brent crude rose more than 1% intraday to $74.42/bbl. WTI crude touched $71.00/bbl, up 1.07% on the day.

Australia May private sector loans YoY 8.2%, up from 8.0% prior.

The CCP Politburo met on June 30, chaired by Xi, and instructed accelerated flood and drought prevention and relief. It ordered prioritizing citizens’ safety, improving monitoring and forecasting precision, and conducting timely, decisive evacuations to avoid mass casualties. The Politburo demanded strengthened flood protection for major rivers and lakes and tighter control of river/lake flow corridors, while treating rapid shifts between drought and flood as a key risk and pursuing both flood and drought measures. It called for unified water-source management and scheduling, enhanced inspections and protections for major infrastructure and construction projects, and reinforcement of agricultural infrastructure. Authorities were told to ensure fast, efficient rescue and relief capacity via pre-positioning of forces, equipment and supplies, and to shift resources and personnel to grassroots/frontline units to boost local disaster-response capability and safeguard basic living needs of affected populations.