EIA: U.S. April total oil demand 20.808 mln bpd, up 2.9% YoY (+595,000 bpd); March increase was 2.2%.

France's consumer prices rose 2.0% YoY in June, down from 2.8% in May and below the 2.3% market consensus, INSEE said. INSEE attributed the disinflation mainly to a sharp slowdown in energy prices—particularly petroleum products—after a steep June drop tied to easing US‑Iran tensions and expectations of a preliminary peace accord; services inflation also moderated, though to a lesser degree. The cooling is a positive signal for the ECB, which raised rates earlier this month for the first time in nearly three years to counter Iran war‑driven price pressures; policymakers said they will remain cautious and assess whether the energy‑led easing is temporary or more persistent.

Goldman Sachs analysts Timothy Moe and John Kwon say a 1 percentage-point increase in the combined weight of Samsung and SK Hynix in Korea’s benchmark equity index could prompt roughly $2 billion of foreign selling, citing US Investment Company Act diversification thresholds. GS warns that heavy inflows into leveraged ETFs, rising options activity and increased retail margin usage have created structural liquidity fragility that can produce daily price moves well beyond corporate fundamentals. Korea’s asset-management growth since last year has been driven mainly by investment returns rather than new inflows, increasing mechanical institutional exposures often tied to hedges; even a modest market pullback could therefore trigger cascades of forced selling.