Mainland China's three major A-share indexes extended gains; Shenzhen Composite Index and ChiNext Index each rose 1.0%, China's Shanghai Composite Index up 0.73%.

Kpler data show August-to-date Iranian crude exports fell to about 277,000 bpd, down 616,000 bpd MoM and 1,398,000 bpd YoY, while Saudi exports dropped to about 1,928,000 bpd, down 2,678,000 bpd MoM and 3,743,000 bpd YoY. Iraq and the UAE have taken market share: August-to-date exports rose to about 2,151,000 bpd and 3,579,000 bpd respectively, MoM increases of 699,000 bpd and 631,000 bpd; UAE exports are up 411,000 bpd YoY. Independent energy researcher HFI Research says Iraq’s rise reflects Iranian crude being blended into Iraqi cargoes and shipped on Prosperity tankers, which it cites as the reason those Prosperity vessels transiting the Oman route were not attacked.

Data show 5 commercial vessels transited the Strait of Hormuz on Tuesday, well below the 10-day average of 15.