White House National Economic Council director Hassett said traffic through the Strait of Hormuz has risen again after some volatility.

U.S. refinery utilization 96.6% in the week to June 26, EIA; consensus 96.3%, prior 96.1%.

China foreign minister Wang Yi held a phone call with U.S. Secretary of State Rubio on June 30. Wang urged both sides to turn leaders' consensus into concrete policies and actions, saying building a constructive strategic-stability relationship requires sustained, reciprocal steps. He called for expanding cooperative agendas, narrowing dispute lists and managing risks, and urged the U.S. to be extremely cautious on Taiwan-related matters. Both sides described the call as positive and constructive, agreed to jointly implement the leaders' consensus and to maintain flexible communications.