Kuwait's military said its air defence forces are currently responding to hostile drones originating from Iran.

US Treasury yields rose in Wednesday Asian trading but remained below Tuesday's intraday highs after June CPI printed below market expectations, which had pushed yields down at Tuesday's close. Jamie Cox, managing partner at Harris Financial Group, said the report did not show runaway inflation and that the recent inflation uptick reflected mainly higher energy prices, an effect likely to be transient. Renewed escalation in US-Iran tensions remains a key source of market uncertainty.

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