Citigroup analyst Jamie Searle says the ECB would prefer not to discuss France at its upcoming policy meeting but may find the topic unavoidable. The ECB may remind markets it has conditional backstop tools but is unlikely to encourage intervention in French markets. French bond volatility is expected to dominate Lagarde’s Thursday press conference after weeks of heavy selling as markets doubt the French government can narrow the budget deficit to 5% of GDP by 2027, particularly following recent

Iran’s foreign minister said military tensions and shipping disruptions in the Strait of Hormuz have already affected gas supply security and global energy market stability. He urged stronger Iran‑Russia cooperation in the global gas market — citing expanded investment, technology transfer, oil and gas field development and increased export capacity. He called for closer coordination among Gas Exporting Countries Forum members to bolster energy security and resilience to geopolitical shocks. He also said Iran has proposed a seven‑day plan to help reopen the Strait of Hormuz and restore normal maritime traffic, conditional on the removal of military threats and other requirements.

President Trump said the US is fully clear on what happened at Iran's "Pickaxe Mountain" facility.