Brent crude rose 1.00% intraday to $98.55/bbl.

European Commission President Von der Leyen said the EU will allow Ukraine to purchase components and equipment for Patriot air-defence systems.

Volker Treier of the German Chamber of Commerce said Germany's exports fell 0.8% MoM in July after five months of gains, attributing the setback primarily to trade-policy volatility. He said a relatively weak global economy and intensified competition are weighing on exporters. Treier added that the Trump administration's July announcement of a 10% tariff on EU imports has been associated with higher exports to the US, and that the business-environment improvements Germany and Europe need to revive exports have not materialized.