Tesla (TSLA.O) CEO Elon Musk said Micron offered a substantial allocation of memory chips on reasonable terms.

Brent crude rose 4.1% to $94.72/bbl in European morning trade, a near seven-week high, while WTI gained 4.1% to $87.78, after Trump downplayed the likelihood of immediate talks with Iran. Market sources said transits through the Strait of Hormuz have fallen sharply and many tankers are rerouting via the Bab el-Mandeb. Reported attacks on tankers at Black Sea ports prompted the Caspian Pipeline Consortium to suspend shipments from Kazakhstan and stop receiving Kazakh crude. ING said Brent slightly above $91 looks undervalued given renewed Persian Gulf supply disruptions, Red Sea risks to Saudi exports and Black Sea developments, especially if outages persist into August.

ACCC has proposed a draft determination to implement the settlement between Google (GOOG.O) and Epic Games in their ongoing legal dispute in Australia.