ECB Governing Council member Nagel said it is still too early to judge whether to raise interest rates.

Germany and the Netherlands opened a military headquarters in the Baltic region to deter Russia, with the German-Dutch 1st Corps assuming part of NATO’s eastern-flank defence from NATO’s Multinational Corps Northeast at a ceremony in Valga, Estonia. German Defence Minister Pistorius said the new high-capability headquarters raises readiness, tightens command-and-control and strengthens deterrence. US Army Gen. Donahue, commander of NATO Allied Land Command, welcomed the move and said European states are taking on more responsibility than in the past 35 years; the handover comes ahead of next week’s NATO summit.

As of 06:53 Beijing time, expiring Brent August futures were down 1%, roughly $20 below the end‑May close (about a 22% decline); the more active September contract fell 0.6%. Investors are pricing a potentially positive outcome from possible U.S.-Iran talks in Doha even as the ceasefire remains fragile and normal transit through the Strait of Hormuz has not resumed. Market participants remain cautiously optimistic but are taking two‑sided positions until clearer signs of de‑escalation appear, KCM Trade chief market analyst Tim Waterer said.