China's main futures contracts closed mixed in the morning session. SC crude oil rose more than 9%; fuel oil gained nearly 8%; low-sulfur fuel oil (LU) advanced over 7%. LPG, propylene, asphalt, plastics, ethylene glycol (EG) and ethylbenzene (EB) each rose over 5%. On the downside, Shanghai silver fell more than 2%; Shanghai gold, soda ash, polysilicon and Shanghai lead were down over 1%.

Last week a New York Times reporter was served with a subpoena alleging "violations of federal criminal law" two days after publishing a story that contradicted Trump’s claim that Qatar offered to fund a new Air Force One. The reporter suspects the subpoena was rushed in response to Trump’s anger at the coverage. New York Times executive editor Joe Kahn called the subpoenas "impulsive" in a staff memo and condemned the "blatant intimidation of individual reporters," urging courts to reaffirm legal protections for newsgathering. FBI Director Kash Patel was summoned to the White House on Friday for a leak-investigation meeting shortly before the subpoena was served. First Amendment lawyer Floyd Abrams said he could not recall a precedent for a president intervening so directly to compel reporters to disclose sources and said the public has a strong, legitimate interest in knowing the truth in such matters.

Iran's top joint military command said Iran will resolutely respond to any interference with commercial vessels and oil tankers by US forces operating outside Iran-designated shipping routes and without permission from Iran's armed forces.