The Russian Defence Ministry said on July 5 its air-defence systems intercepted and destroyed 71 Ukrainian fixed-wing drones overnight between 20:00 on July 4 and 07:00 on July 5 Moscow time over Belgorod, Bryansk, Rostov, Crimea and Black Sea waters.

Iraq signed an agreement and a statement with Halliburton to manage two oilfields, market sources said.

China International Capital Co (CICC) says after global inventory builds and deep price falls in 2023–25, 2026 could mark a cyclical inflection for agricultural commodities. Price bottoms across categories appear set, creating an easier-to-rise-than-fall dynamic; CICC judges H2 2026 likely lacks a basis for a fresh one-way decline as costs form a floor, supply contraction becomes entrenched, weather may add episodic shocks, and demand opens up. Sector performance ranking: oilseeds and vegetable oils, cotton, natural rubber, sugar > soybeans, corn. Q2 valuations have corrected to reasonable levels; CICC recommends medium-to-long-term buy-the-dip positioning to capture phased recoveries and trend upside.