LOGAN of the Fed said oil export increases stem mainly from inventory releases rather than new production.

China's Shanghai Composite Index closed down 1.85% at 3,882.41 on Thursday, July 16. Shenzhen Composite fell 1.97% to 14,488.65. CSI 300 Index dropped 1.85% to 4,698.43. ChiNext Index slipped 2.95% to 3,692.46. STAR 50 Index led losses, down 4.02% to 1,846.88.

Ukraine’s parliament approved a new cabinet list with 264 votes, accepting the outgoing cabinet’s resignation and confirming a replacement slate. The approved list did not include nominees for defence and foreign ministers; the president will nominate those two posts. Six incumbent ministers were retained, including First Deputy Prime Minister and Energy Minister Denys Shmyhal, Deputy Prime Minister for Humanitarian Policy and Culture Tetiana Berezhna, Finance Minister Serhii Marchenko and Health Minister Viktor Liashko. Former head of Ukraine’s mission to the EU Vsevolod Chentsov was appointed Deputy Prime Minister for European affairs.