US API weekly crude oil imports for week to July 31: 172,000 barrels; prior -399,000 barrels.

BofA says if the Fed resumes rate hikes, investors should target specific currency pairs rather than broad FX exposure. The bank flags yen and pound pairs as the clearest opportunities; historically these pairs have seen the largest volatility during Fed tightening cycles, making targeted trades more attractive than bets across the full G10 FX complex.

Trita Parsi, executive vice president of the Quincy Institute for Responsible Statecraft, said on Monday that Trump’s repeated pattern of escalating military threats against Iran and then canceling attacks has damaged prospects for a negotiated settlement. “It has become a tiresome pattern. If it continues, ultimately all negotiating credibility will be lost. People will question whether agreements will be honored and whether offered incentives are credible — and the credibility of the threats themselves will be eroded,” she said.