Dow Jones Industrial Average closed down 5.71 points (-0.01%) at 52,218.93 on July 22; S&P 500 closed down 10.22 points (-0.14%) at 7,498.98; Nasdaq Composite closed down 146.30 points (-0.57%) at 25,690.90.

Nikkei reports Inpex will begin trial drilling for a carbon capture and storage (CCS) project offshore Chiba, near Tokyo. The work will be carried out by Inpex subsidiary Metropolitan CCS. Metropolitan CCS president Yoshiaki Oku said: "Decarbonizing industries such as steel is difficult. We hope to solve this by storing CO2 underground. This will become major infrastructure for Japanese industry."

Local residents reported Ukrainian drones struck a Russian oil refinery, with explosions observed near a key Russian logistics hub.