South Korea's KOSPI fell as much as 1.00% intraday; SK Hynix down 2.2%.

A White House official said President Trump's weekend announcement of an 'energy truce' refers to a potential agreement for Russia and Ukraine to halt attacks on refineries, with a possible follow-up to stop strikes on power plants and energy grids. The official described the proposal as a refinery-for-refinery idea but warned it is clearly asymmetric: Ukraine has one refinery that has been repeatedly hit and is not fully operational, while Russia controls a much larger refining network. The official said Ukrainian strikes on Russian refineries have damaged relations between Zelenskiy and Trump more than they have hurt Russia; Trump is reportedly angry and feels Zelenskiy takes the United States for granted. U.S. special envoys Witkoff and Jared Kushner have suspended planned trips to Moscow amid the crisis.

Saudi Energy Ministry said Saudi Minister of Industry and Mineral Resources and Kuwait's Minister of Electricity, Water and Renewable Energy signed a memorandum of understanding on cooperation in the power and renewables sector.