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With this backdrop, oil has rallied, with WTI climbing to $62.89 a barrel on heightened demand expectations, while markets await the upcoming OPEC meeting later this week.

Asian equities are mostly unchanged for the day, aside from the Hang Seng (-0.8%). US equity futures are flat, with attention focused on later today’s Nvidia earnings.

Markets remain on the quieter side. US equities held firm on Friday after a test lower, as Trump extended the deadline to impose 50% tariffs on the EU to July 9th, allowing time for further negotiations.