US EIA finished petroleum product imports for the week to Aug. 7 were 206,000 b/d, versus -317,000 b/d in the prior week.

Baltic Dry Index fell 3.51% to 2,939 points.

Cambricon said accelerating large-model technology is driving sustained growth in intelligent-computing demand and will continue to focus on AI chip design innovation to bolster competitiveness, expand market share and accelerate scenario deployment. For internet customers it is prioritizing large models, multimodal and search/recommendation applications, and is optimizing compute performance, communication efficiency and framework capabilities to improve integrated performance in typical internet workloads. The company said 1H2026 hardware work includes a new-generation processor microarchitecture and instruction set under development, with optimizations targeting large-model training and inference and aiming to improve programmability, ease of use, performance, power consumption and silicon area.