Abu Dhabi National Energy Company (TAQA) said 1H oil and gas production fell after scheduled decommissioning of its UK North Sea assets.

India July CPI rose 4.45% YoY, in line with forecasts and inside the Reserve Bank of India’s 2–6% target band, reinforcing market bets that policymakers will keep rates on hold. The print — July’s seventh consecutive month inside the tolerance band — supports the RBI’s decision to hold the policy rate at 5.25% for a fourth straight meeting and further cools expectations of an imminent hike. June had briefly breached the RBI’s 4% level for the first time in 17 months. Policymakers say they need a clearer read on inflation’s trajectory and composition before acting. ANZ economist Dhiraj Nim said this result “should not cause policymakers concern,” noting price pressures ex-food and fuel are building but are not rising in an uncontrolled way.

Core CPI (ex food and energy) rose 0.2% MoM and 2.5% YoY, the weakest YoY gain since Mar 2021. Energy and gasoline fell for a second month; grocery prices declined for the first time since March, partly driven by a record drop in lettuce prices amid a cyclospora outbreak. Housing rent/owners-equivalent rent rose 0.1% MoM and accounted for roughly two-thirds of the headline CPI increase. AI-related price pressure showed in a record 21.2% YoY rise in computer software and accessories; computers, peripherals and smart-home assistants posted their largest gains in over four years. Market reaction: traders trimmed odds of a Fed September rate hike after the release.