July 23 — China's Foreign Ministry spokesperson Lin Jian said Wang Yi is, per schedule, likely en route to Kyrgyzstan to attend the SCO foreign ministers' meeting in Bishkek. On whether Wang plans a bilateral meeting with Russian Foreign Minister Lavrov, Lin said any details will be released in due course.

ECB President Lagarde: paying close attention to risks of any second-round effects.

DOE data show U.S. refiners have ramped diesel production to near-historic levels, reversing usual seasonality. Refineries averaged 5.3 mln bpd of refined fuel oil (primarily diesel) this month; if sustained, it would be July’s highest on record and among the highest months outside the winter heating season. Refiners advanced output months early in response to acute global diesel supply tightness.