Japan 20-year government bond yield fell 1.5 bps to 3.565%.

Danske Bank forecasts Brent crude will average $80/bbl for the remainder of 2026 and rise to $85/bbl in 2027. The bank said a U.S.-Iran deal would reopen oil shipments through the Strait of Hormuz but warned Iran’s production and exports would take months to normalize, limiting immediate supply relief. Danske flagged ongoing U.S. Strategic Petroleum Reserve releases as a near-term supply factor and said Washington may maintain releases for political reasons ahead of November’s U.S. midterm elections.

As the U.S. lifted sanctions on related cargoes and permitted more buyers, over 30 mln barrels of Iranian crude flowed to Asia in the past week, including previously blocked cargoes and volumes from Kharg Island, Iran’s largest export terminal in the northern Persian Gulf. The surge — pushing shipments to about 2.0 mln bpd, a recent high for Iran — mainly reflects a clearing of blocked cargoes and may prove temporary; export rates could fall thereafter. In the near term Tehran stands to benefit as expanded exemptions widen the buyer pool and allow it to raise sales with smaller price discounts.