HSBC expects a cyclical oil-market surplus of 3.7 mln bpd in 2027.

July 8, 2026 — Qingdao held its venture-capital conference and launched the Qingdao Fund Industry Development Alliance, which has attracted over 100 members including state-owned enterprises, leading investment firms, financial institutions, intermediaries and research institutes. The alliance will provide a government–enterprise, multi-party platform for industry–finance matching and aims to cultivate long-term and patient capital. Qingdao city also signed strategic cooperation agreements with Shanghai Pudong Development Bank, Guotai Haitong Securities and Zhongtai Securities.

Iranian navy Admiral Siaari said Trump had threatened to seize Kharg Island, deploy forces along the Strait of Hormuz and send destroyers into the strait, but none of those moves materialized.