EIA Short-Term Energy Outlook forecasts global oil demand of 102.8 mln b/d in 2026, down from a prior 102.9 mln b/d estimate; and 104.8 mln b/d in 2027, down from a prior 105.3 mln b/d.

HSBC plans to increase its Hong Kong gold storage to about 200 tonnes within months to support Hong Kong’s 2,000-tonne storage capacity target, the bank said. HSBC holds roughly 600 tonnes in London and more than $100bn of gold globally. Hong Kong has launched a gold central clearing and settlement system, and the Hong Kong Treasury and Shanghai Gold Exchange have begun the first phase of a physical connect to boost liquidity and link Asian, mainland and global markets. On the pilot day HSBC arranged initial client trades, completed full lifecycle processing and executed the first physical-connect transaction.

The UK will join the Precision Strike Missile (PRSM) programme and allocate £190m to the project from the government’s £298bn defence investment plan.