According to CCTV: Li Qiang chaired an executive meeting of the State Council to further deploy flood prevention, flood control and disaster relief work.

Former U.S. Marine Corps officer Dan Grazier said Washington's response to Iranian attacks on merchant ships in the Strait of Hormuz has been "proportionate," but the U.S. needs to find a way to stop the escalation. He said U.S. strikes have hit military facilities on Iran's southern coast and targeted the fast boats used to harass vessels transiting the strait without Tehran's permission. "When Iran does not try to project its military far from its territory, it has a huge advantage," he said. "With small-scale harassment they can create problems for the U.S. and Israel that are hard to address. Therefore U.S. officials should try to end this conflict, because this asymmetric warfare is a thorny military problem and, frankly, the U.S. has yet to find a solution."

Energy: 1. The State Council issued the "15th Five-Year Plan for Carbon Peaking Action". 2. The EU plans to set an electrification target for 2040 to reduce dependence on oil and gas. 3. Maersk: Shipping services from the Middle East to the US East Coast have resumed via the Suez Canal. 4. The US Commodity Futures Trading Commission (CFTC) officially suspended the CME Group's full-day crude oil futures trading program. 5. World Bank: The Board of Directors approved $375.9 million in financing for a project to improve the stability of Pakistan's power grid. 6. Freeport-McGenerating International (Freeport LNG): Major maintenance work has begun on its Texas facilities and will continue until late August. 7. Oil and Natural Gas Corporation of India (OGMI) approved a project to expand the strategic petroleum reserve, adding 1.75 million tons to the national crude oil reserve capacity. 8. Sources: Belarus supplied Russia with a record amount of gasoline and diesel in June, totaling approximately 260,000 tons. 9. Iraq signed an agreement with HKN Energy to develop the Hamlin oil field. The goal is to achieve a production capacity of 140,000 barrels per day and an average daily natural gas production of 40 million cubic feet. 10. Pricing documents show that Qatar Energy has set its official selling price (OSP) for August seaborne crude at a discount of $5 per barrel to Oman/Dubai crude; and its OSP for land-transported crude at a discount of $4.50 per barrel. Precious Metals and Mining: 1. The Polish central bank has purchased a total of 82 tons of gold this year, meaning it has purchased an additional 37 tons since April. 2. Bernstein is bullish on gold in the second half of the year, raising its target price to $4,375 per ounce and its full-year target price to $4,533. 3. The Central Bank of Kazakhstan: Kazakhstan's net gold and foreign exchange reserves in June were $60.161 billion (down 7.8% month-on-month). 4. HSBC: Expects gold prices to fluctuate between $3,800 and $4,700 for the remainder of 2026; with a year-end price of $4,750. The average gold price forecasts for 2026 and 2027 have been lowered to $4,560 and $4,925, respectively. Iran Situation: 1. US officials: Technical-level negotiations with Iran are ongoing, and the US remains committed to finding a solution. Iran must not possess nuclear weapons. 2. According to TankerTrackers: Tehran, anticipating the imminent restoration of the US maritime blockade, exported at least 10 million barrels of crude oil and fuel oil overnight. 3. US officials: Technical-level negotiations with Iran are ongoing, and the US remains committed to finding a solution. Iran must not possess nuclear weapons. 4. US Central Command: Iran does not control the Strait of Hormuz. Since early May, the US military has been assisting in ensuring the safety of navigation through this vital international trade route, with over 800 merchant ships and 380 million barrels of crude oil successfully passing through the strait. Other: 1. The US has decided to temporarily suspend tariffs on aircraft and jet aircraft parts. 2. National Bureau of Statistics: The national summer grain planting area in 2026 is 26,532.4 thousand hectares. 3. Malaysian Palm Oil Board (MPOB): Malaysian palm oil production in June was 1,638,777 tons, an increase of 8.08% month-on-month. 4. Japan Meteorological Agency: The El Niño phenomenon appears to be continuing since the spring of 2026. The probability of El Niño persisting into autumn is 100%.