Hungary's Prime Minister Magyar said a bottom weir will raise river levels to ensure cooling at the Paks nuclear power plant.

Saudi Arabia told OPEC a temporary ceasefire window in the Iran conflict allowed Gulf producers to restore flows, lifting its July crude output by more than 1 MBD to 8.2 MBD from 7.1 MBD in June. Saudi production remains several million b/d below pre-conflict levels. The IEA estimates Saudi domestic crude stocks rose by early August to at least their highest since 2016. The U.S.-Iran ceasefire has collapsed and renewed hostilities heighten risk to two key export routes—the Strait of Hormuz and Bab al-Mandeb—though Middle Eastern producers are still quietly exporting large volumes. Among seven OPEC members reporting directly to the secretariat, combined output rose 1.88 MBD, with most of the increase from Iraq and Saudi.

AI chipmaker Cerebras reported Q2 revenue $210m, up 103% YoY. Cloud revenue surged to $126m, nearly 4x YoY, while hardware sales fell 23% to $54.1m. The company posted a net loss of $450.5m in the quarter versus net income of $309.5m a year earlier. Cerebras raised full-year core revenue guidance to $880m–$890m from $855m–$865m previously. It said core gross margin will expand to 38–40% this quarter to address investor concerns. Shares fell more than 17% in after-hours trading. Since its May IPO the stock has risen about 42%. The company, originally positioned as a challenger to NVIDIA, now derives its largest revenue from cloud services.