According to Yonhap News Agency: South Korean President Yoon Seok-yeol will visit the Czech Republic later this month.

Citigroup cut its price target for Mercedes-Benz Group to 60 euros from 65 euros.

Citigroup cut its price target for BMW shares to 74 euros from 80 euros.

Ukrainian Air Force: Shot down six drones and two missiles in nighttime attack launched by Russia.

Bank of America: It is expected that starting in September 2024, the Federal Reserve will cut interest rates by 25 basis points at each meeting, and will slow down to a 25 basis point rate cut per quarter by March 2025.

U.S. discount retail chain Big Lots has filed for Chapter 11 bankruptcy protection in Delaware.

Goldman Sachs: Due to oversupply, oil prices are expected to face downward pressure from 2025 to 2026.

The General Staff of the Ukrainian Armed Forces: In the past day, the Russian army lost about 1,150 soldiers, as well as 3 tanks, 9 armored vehicles, 26 artillery systems and other equipment.

An executive at commodity trading company Trafigura: Oil prices may fall to $60 a barrel in the near future.

According to the Financial Times: Bangladesh has defaulted on payments of $492 million to India’s Adani Group, an aide said.

Market news: A bridge collapsed in Phu Tho Province in northeastern Vietnam. There are no reports of casualties yet.

An executive at commodity trading company Trafigura said that a shadow fleet is still transporting large quantities of Russian oil, while Iranian oil continues to flow into the market.

An executive of commodity trading company Trafigura said: It is well known that Trump does not like Iran. If Trump is elected as the US president, the oil market may become more turbulent.

An executive at commodity trading company Trafigura: The oil market is more concerned about the foreign policy of the next US president.

Goldman Sachs: Financial demand losses have reached 7 million barrels per day in the past two months, and current positions are at historical lows.

S&P 500 futures rose 0.3% and Nasdaq 100 futures rose 0.4%.

An executive at commodity trading company Trafigura: Sentiment in the oil market is currently weak.

An executive at commodity trading company Trafigura: OPEC is currently sending confusing messages to the market.

An executive at investment firm Carlyle said: High prices can accelerate energy transition faster.

Chairman of commodity trader Gunvor Group: OPEC is in a dilemma because it does not want an oil price war, but is also unwilling to give up market share.