ANZ maintains Brent crude forecast at $92/bbl for end-3Q2026, citing an uneven recovery in Persian Gulf oil flows.

Foreign Ministry spokesman Lin Jian, asked about a new round of US tariffs set to take effect today, said China's position on Sino-US trade is consistent and clear: Beijing opposes unilateral tariff measures and warned tariff wars and trade wars are not in any party's interest.

Japan's 40-year government bond yield rose about 10bp intraday to 4.010%, and the 5-year JGB hit its highest level since its 2000 issuance. Moves tracked U.S. Treasuries as oil gains boosted Fed rate-hike expectations. Ataru Okumura, chief rates strategist at SMBC Nikko Securities, said markets are focused on the Bank of Japan's slow response to rising oil prices, prompting investors to demand a higher premium to hold long-dated bonds; with concerns about fiscal expansion ahead of the government's expected early-August finalization of a consumption tax-cut plan, yields could rise further.