Phillip Nova head of market insights Priyanka Sachdeva said oil prices are falling as Gulf supply is restored and hopes of a US‑Iran diplomatic breakthrough grow, prompting the market to trim part of its geopolitical risk premium. She added Brent still carries a larger geopolitical and sea‑lane premium because international crude is more directly exposed to Middle East and Strait of Hormuz disruptions, while WTI is more influenced by relatively insulated US supply.

USD/CAD traded above 1.41, up 0.25% intraday.

Suzhou Housing Provident Fund Management Center said depositors and their spouses with no outstanding housing provident fund loan balance nationwide may withdraw funds to pay for renovations of owner-occupied housing within Suzhou. Cumulative withdrawals for the same property are limited to the renovation VAT invoice amount and capped at 150,000 yuan. Individual accounts must retain at least one month’s contribution calculated on the latest contribution base (excluding new-employee subsidies).