石油新闻：由于美中关税暂停提振需求前景，WTI期货上涨3%。由于美中暂停关税提升了石油需求前景，原油价格飙升超过3%；交易员们关注50日移动均线的关键阻力位，以寻求潜在的看涨突破。

Oil News: WTI Futures Jump 3% as US-China Tariff Pause Boosts Demand Outlook.Crude oil surges over 3% as US-China tariff pause lifts oil demand outlook; traders eye key resistance at the 50-day moving average for a potential bullish breakout.

英国央行Lombardelli：由于工资和服务通胀居高不下，有必要逐步削减。英国央行副行长Clare Lombardelli在今天的一次演讲中强调了采取“渐进和谨慎”的政策宽松方法的必要性。她指出，尽管有噪音，但潜在通胀“继续下降”。

BoE's Lombardelli: Gradual cuts warranted as wage and services inflation stay high.BoE Deputy Governor Clare Lombardelli reinforced the case for a “gradual and careful” approach to policy easing in a speech today. She noted underlying inflation “have continued to fall” despite noises.

周一，美国10年期国债收益率上涨约6个基点，至4.45%，为约一个月来的最高水平，因为美国和中国同意大幅降低关税的消息传出后，风险偏好有所改善。根据为期90天的协议，美国将把对中国商品的关税从145%降至30%，而中国将把对美国进口商品的征税从125%降至10%。这一消息提振了投资者信心，表明双方都有意缓解贸易紧张局势。与此同时，人们的注意力正转向本周公布的关键通胀数据，预计CPI和PPI报告将提供有关不断变化的价格压力的见解，以及关税的影响是否已经渗透到通胀中。交易员目前预计，今年联邦基金利率将两次下调25个基点，第一次可能在9月，低于一周前预计的三次降息。

The yield on the US 10-year Treasury note rose about 6 basis points to 4.45% on Monday, its highest level in roughly a month, as risk appetite improved following news that the US and China agreed to substantially reduce tariffs. Under the 90-day agreement, the US will cut tariffs on Chinese goods from 145% to 30%, while China will lower levies on US imports from 125% to 10%. The announcement boosted investor confidence, signaling a serious intent on both sides to ease trade tensions. Meanwhile, attention is shifting to key inflation data due this week, with CPI and PPI reports expected to offer insights into evolving price pressures and whether the effects of the tariffs are already filtering through inflation. Traders are now pricing in two 25 basis point cuts to the federal funds rate this year, with the first likely in September, down from three rate cuts anticipated just a week ago.

周一，欧洲天然气价格高于35.7欧元/兆瓦时，保持了上周的涨幅，并在与亚洲的购买竞争加剧和长期供应受挫的情况下，追随液化天然气价格的上涨。最新数据反映了印度强劲的液化天然气竞标和中国的强劲购买，随着公用事业公司在夏季前继续补充库存，欧洲枢纽的价格上涨。本月初，非洲大陆的库存已满40%，而去年同期为62.7%。液化天然气的全球前景受到中国与美国贸易战缓和的支持，这场贸易战将支持耗电量大的商品生产商。反过来，欧盟宣布，除了在2025年底前禁止所有现货进口外，它还将提出法律措施，在2027年底前逐步停止所有俄罗斯天然气和液化天然气的进口。与此同时，立法者投票决定在冬季开始前将欧盟的天然气储量从目前的90%降至83%。

European natural gas prices were above €35.7/MWh on Monday, holding gains from the previous week and tracking higher LNG prices amid increased buying competition with Asia and supply setbacks in the longer term. The latest data reflected strong LNG bidding in India and robust buying from China, raising prices in European hubs as utilities continue restocking ahead of the summer. Inventories in the continent were 40% full at the start of the month, compared with 62.7% in the corresponding period of last year. The global outlook for LNG was supported by the de-escalation in the Chinese trade war with the United States, set to support power-hungry goods producers. In turn, the EU announced that it will propose legal measures to phase out all imports of Russian gas and LNG by the end of 2027, in addition to a ban on all spot imports by the end of 2025. This coincided with lawmakers voting to lower gas storage in the bloc to 83% by the start of the winter season from the current 90%.