New Zealand's earthquake monitoring agency measured a magnitude-6.3 quake in the southern South Island on July 16.

TotalEnergies said Q2 oil trading performed strongly amid market volatility from the Middle East conflict, while gas trading was weak. Oil trading profits are expected to "remain at the strong levels seen in Q1," and downstream earnings and cash flow are expected to "grow sharply." The company's integrated LNG business is expected to "decline significantly" given the weak European LNG market. TotalEnergies' upbeat oil-trading outlook is consistent with signals from other international majors; Western oil companies are poised to report strong earnings as results are released later this month.

Capital Economics economist Gareth Leather said that after the BANK OF KOREA's rate hike on Thursday, further increases remain possible in the coming months. Headline consumer inflation has risen sharply recently, while core inflation — the central concern — has climbed from 2.0% at the start of 2026 to 2.5%. Rising house prices pose financial‑stability risks that support a higher policy rate, and strong exports mean the economy can tolerate tighter monetary policy.