HSBC cuts its 2026 Brent oil price forecast to $80/bbl.

The National Shipping Company of Saudi Arabia confirmed the ULCC "Weidian" suffered an incident on Tuesday while transiting the Strait of Hormuz. Cargo remains secure and the vessel is fit for navigation.

BOJ policy board member Asada said he must see signs that demand is driving inflation before he would support further rate hikes, though he noted cost pass-through is occurring "relatively quickly," implying he could back hikes in future. Asada, the lone dissenter on the BOJ's June move to lift rates to 1% (a 31-year high), said he opposed that decision because Middle East uncertainty could weigh on output and employment. He said any future tightening requires inflation sustainably near 2% underpinned by wage growth and demand, conditions he judged not yet met. While oil prices have fallen and consumer inflation is easing, Asada warned earlier oil-driven price increases are transmitting relatively fast and could push broad goods prices higher.