Mexico's Pemex and Brazil's Petrobras said their CEOs signed a non-binding memorandum of understanding in Rio de Janeiro to cooperate on exploration, production and refining to help expand oil reserves. The agreement covers Gulf of Mexico shallow- and deep-water exploration and cooperation on refining, natural gas, petrochemicals and related areas.

Hong Kong-listed gold shares fell broadly; Zijin Gold International (02259.HK) down over 4%, Chifeng Gold (06693.HK), Zijin Mining (02899.HK) and Shandong Gold (01787.HK) down over 3%.

Iranian central bank governor Hemmati told Tasnim the country is not obliged to use unfrozen funds to purchase U.S. agricultural products, responding to President Trump’s assertion that the funds should be spent entirely on U.S. farm exports. Hemmati said the use of the initial $6 billion will follow a 2023 Iran–U.S. memorandum of understanding and cover basic commodities and medicines, and that Iran would not rule out buying U.S. goods if price and quality are preferable.