U.S. API crude stocks for the week to July 3 due in 10 minutes.

CHINA STATE PLANNER convened an inter‑ministerial meeting directing faster, stronger implementation of measures to expand and upgrade the service sector. Authorities will set industry- and region-specific development tracks, identify growth drivers for the "15th Five-Year" period, and design incremental policies with quantitative targets to enable classified, targeted support. Policy emphasis is on demand-led reforms, tech enablement and openness, improving supply–demand matching, and stepping up the removal of unreasonable standards and restrictive measures to enlarge service export capacity. Agencies were also tasked to mobilize existing stock while optimizing incremental supply, accelerate major projects, scale up high-quality operators and cultivate more "Chinese service" brands.

Germany’s federal cabinet on the 6th approved a draft 2027 federal budget that plans total spending of €555.4bln, up from €524.5bln in 2026. The draft raises federal defence spending to about €109.7bln in 2027, roughly one-third higher than 2026. The plan drew criticism: The Left said it prioritises defence over household relief and disaster aid; industry groups warned spending and debt growth are too rapid and fiscal planning lacks prudence; environmental organisations criticised reallocations from the climate and transformation fund, saying the move would weaken support for climate protection.