Bank of Mexico: Within the forecast range, the risk balance for the inf path remains tilted to the upside.

After a one-week pause Chinese VLCCs resumed loading Saudi crude but shifted routes away from the Red Sea to sail around Africa. On Aug. 4 COSCO’s 330,000 dwt VLCC Yuanxihu arrived off Egypt’s Sidi Kerir terminal in the Mediterranean to await loading. The ship had entered the Red Sea on July 11 and remained off Yanbu after Houthi forces announced a maritime blockade of Saudi waters. On Aug. 1 Yuanxihu, in ballast, transited north through the Suez Canal with its destination shown as Sidi Kerir.

China’s embassy in Argentina said on Aug. 6 that the U.S. embassy in Buenos Aires has stoked “China‑threat” rhetoric, broadened national‑security claims and used visa revocations to prevent Argentine firms from normal cooperation with Huawei. China strongly opposed the move as interference with sovereignty and market principles and urged the U.S. to correct its perception of China and stop hegemonic acts and political manipulation.