China's National Bureau of Statistics: Shanghai newly built commercial residential prices in June +0.3% MoM (May +0.2%), +3.1% YoY (May +3.2%).

国家统计局：上海6月新建商品住宅价格环比+0.3%（前值+0.2%），同比+3.1%（前值+3.2%）。

Kpler said Ukrainian drone attacks have reduced Russian refinery throughput to a 21-year low of about 3.8 mln bpd. The firm expects Q3 refinery runs to remain subdued, with only limited recovery as ongoing strikes and repair work constrain operations. Cumulative damage has sharply raised offline capacity: as of mid‑July roughly 4.3 mln bpd of capacity was offline or affected, about 58% of Russia’s refining capacity, and an estimated 1.5–2.0 mln bpd of processing capability is fully out of operation. Kpler forecasts a modest rebound to around 4.3 mln bpd in August as maintenance eases, but says continued drone attacks pose significant downside risk.