A Polish central bank official said that, if any, there would be at most one rate cut this year.

Turkey's energy minister says pipeline agreement with Iraq has entered final stage.

The Baltic Dry Index rose 34 points (1.2%) on Friday to 2,944, marking an 8.4% weekly gain as a stronger Capesize index boosted rates. The Capesize index gained 86 points (1.9%) to 4,655, raising Capesize daily earnings by $780 to $38,711/day and delivering about a 13.5% weekly advance. The Panamax index was unchanged at 2,253 but up 2.3% for the week; Panamax daily earnings fell $3 to $20,273/day. The Supramax index rose 6 points (0.4%) to 1,706, up roughly 2% on the week.