China's national electricity load reached a historic high as improving economic activity and persistent high temperatures drove rapid demand growth. Entering the critical summer power-supply period, the National Energy Administration (NEA) said it will coordinate with relevant parties to ensure flexible normal supply, implement measures to address local short-term tightness, maintain contingency plans for extreme conditions, enforce supplier accountability and protect residential and economic el

Hanwha Ocean sold roughly $2bn in the USD/KRW forward market on Friday, sources said; the company did not comment. The report coincided with the won strengthening about 0.6% to 1,500 per USD. The intervention occurred as Korean policymakers seek to stem won weakness and amid market expectations that SK Hynix’s planned US ADR issuance will slow offshore sales of Korean equities and reduce capital inflows. South Korea’s deputy finance minister said he expects local-currency supply-demand conditions to shift by H2 2026 and predicted exporters’ dollar holdings will generate inflows via FX forwards.

IEA Director Fatih Birol urged the EU to reassess its ban on new Arctic oil and gas drilling after meeting Norway’s finance minister in Brussels, saying the move is crucial for European energy security and that "the world needs every drop of Norway's oil." Norway is lobbying the EU to remove the ban in a policy update expected this year; the restriction was first imposed in 2021. Six institutional investors have called on the EU to maintain the ban, citing the need to stick to the green transition, while critics warn lifting it would do little for short-term supply and would further endanger fragile ecosystems. Jens Stoltenberg reiterated Norway’s position alongside Birol.