WTI crude opened 0.3% lower on Monday, trading at $68.54/bbl.

The Russian Defence Ministry said on July 5 its air-defence systems intercepted and destroyed 71 Ukrainian fixed-wing drones overnight between 20:00 on July 4 and 07:00 on July 5 Moscow time over Belgorod, Bryansk, Rostov, Crimea and Black Sea waters.

China's logistics prosperity index rose to 50.6 in June, up 0.3 ppt MoM and remaining in the expansion range, with a balanced recovery across regions. Nine of 12 sub-indexes were in expansion; the business volume index was 50.6 (+0.3 ppt MoM) and the new orders index 50.3 (+0.1 ppt MoM). Manufacturing logistics demand firmed — strongest gains in electronic/mechanical equipment, communications equipment, transportation equipment and energy‑saving home appliances — while household consumption logistics were stable, with holiday spending boosting wholesale, retail chains and some supermarkets.