President ERDOGAN said if the rights of Turks and Turkish Cypriots in the Eastern Mediterranean are infringed, Turkey will respond clearly and forcefully.

EIA now expects OECD oil inventories to fall to their lowest level since 2003.

Sky News reports the Department for Business and Trade is due to hold talks with industry bodies on Wednesday and Thursday to discuss exempting additional steel categories from the trade measures announced in March. Sources say the exemptions would amount to a partial reversal of the tariff regime. The government previously defended the measures as a step to address global steel overcapacity and protect UK producers, and Business Secretary Peter Kyle had supported them. Industrial users warn the rules would have catastrophic effects on key manufacturers, including automotive and aerospace; the British Chambers of Commerce wrote to Kyle last month requesting an urgent meeting.