HSBC raises its TTF gas price forecast to $22.5/MMBtu for H2 2026 and $17/MMBtu for 2027.

Iran Supreme National Security Council secretary Rezaei said Washington has received clear signals from Iran's recent missile operations. He warned any economic warfare will be met with a response, and Iran will designate the area stretching from the Persian Gulf to the US maritime blockade line as a maritime exclusion zone. He said Iran's operational posture toward US warships and military bases has already undergone a fundamental adjustment.

The French Ministry of Agriculture and Food on July 7 forecast 2026 wine production at 3.4 bln liters, among the lowest in 30 years. The statistics office expects a 6% decline versus 2025, which also suffered widespread heatwaves. Heat-related grape burn and wilting are reducing yields. Burgundy, the Loire Valley and other regions are seen falling; Champagne output is forecast to halve year‑on‑year. The ministry said the heat is also hitting other crops: 2026 corn production is projected at its lowest since 1980, with wheat, zucchini and broccoli severely affected.