FTSE China A50 index futures widened losses to 2%.

Refinitiv reported traders on Monday said Iraq’s State Organization for Marketing of Oil (SOMO) and QatarEnergy have launched rare tenders requiring buyers to load cargoes within the Strait of Hormuz. SOMO is offering September-loading Basrah Medium and Basrah Heavy, with loading at the Basrah oil terminal or single-point moorings and associated facilities. QatarEnergy is offering September- and October-loading Al Shaheen, Qatar Marine and Qatar Land crudes, loaded at their respective Qatari terminals. Tenders close Aug. 25.

Goldman Sachs reiterated that if Gulf LNG exports via the Strait of Hormuz do not increase, TTF at €65/MWh is insufficient for Europe to effectively manage winter inventories. If Strait exports fail to improve, TTF must rise further to suppress Asian LNG demand and free cargoes for Europe. Goldman estimates that if Middle East energy exports only gradually normalize by 2027, TTF for December‑2026 delivery may need to exceed €100/MWh (assuming a normal-winter average), versus a €50/MWh base case — roughly a 110% increase — to materially curb Asian demand.