China's June RatingDog services PMI due in 10 minutes.

India oil minister Puri said on Thursday India needs to expand oil and fuel storage capacity during periods of low prices and step up communication with bilateral partners. He said total crude stocks at ports, jetties, refineries and strategic petroleum reserves currently cover only 76–80 days and New Delhi "should store more." Commenting on the Gulf crisis, Puri added the government has learned lessons and will work to increase storage capacity.

The US economy added 57,000 nonfarm payrolls in June, below Wall Street forecasts, the Bureau of Labor Statistics said Thursday. The gain followed three months of upside surprises and fell sharply from May’s downward-revised 129,000; it was also below the Bloomberg survey median of 115,000. The report signals a marked cooling in the labor market; the unemployment rate edged down to 4.2% from 4.3% in May. Despite the slowdown, payroll gains remain well above a 2025 target of average 10,000 annual job additions. Investors cut Fed tightening expectations, the dollar weakened, and futures now price a Fed rate increase in December, versus October previously.