Goldman Sachs said Brent crude could exceed $120/bbl in Q4 2026 if disruption in the Strait of Hormuz persists.

China foreign minister Wang Yi and NPC Standing Committee vice chairman Li Hongzhong separately met in Beijing on the 21st with a delegation led by the chair of the European Parliament’s Foreign Affairs Committee, the committee’s first visit to China. Wang welcomed deeper exchanges and offered closer China‑EU coordination on global affairs to promote an orderly multipolar world and inclusive globalization; the delegation said the EU values ties with China, praised China’s development and opposed “decoupling”. Li said the National People’s Congress will work with the European Parliament to sustain and deepen exchanges, respect core interests, expand pragmatic cooperation and defend multilateralism.

Taiwan June export orders YoY 59.4% (consensus 49.5%; prior 47.2%).