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Market news: The lockdown on Norway's oil services industry has officially taken effect, impacting offshore drilling.

On June 27th, the National Pipeline Group held a hydrogen energy storage and transportation technology exchange meeting in Beijing on June 26th. The meeting officially released technical solutions and complete sets of standards for hydrogen pipeline transportation projects, establishing a complete technical specification and standard system for the connection, storage, transportation, and delivery of hydrogen pipelines. This fills the gap in my country's long-distance, large-scale hydrogen pipeline transportation technology and standards, marking a key leap from single-point technical breakthroughs to systematic application of hydrogen long-distance pipelines in my country.

On June 27th, following two strong earthquakes in Venezuela, Oil and Gas Minister Paula Enau stated on June 26th that oil production was unaffected. In a media interview, Enau said that Venezuela's current daily crude oil production is 1.2 million barrels, and the government has assessed domestic inventory levels, ensuring a secure supply of natural gas and fuels. "We are operating normally; all oil wells are operational and producing." Reportedly, Venezuelan oil company management and oilfield workers indicated that oil and gas facilities were not severely affected. Earlier reports suggested that preliminary assessments indicated limited damage to Venezuela's large oil and gas facilities due to their distance from earthquake-affected cities; however, power shortages could impact oil production capacity.

According to the European-Mediterranean Seismological Centre, a 5.4-magnitude earthquake struck the Pakistan region.

Iran's Meh News Agency, citing local officials, reported that the US attack did not cause any damage to the port of Sirik.

On June 27th, Yu Weining, Chief Statistician of the Industrial Statistics Department of the National Bureau of Statistics, interpreted the industrial enterprise profit data for January-May 2026. Yu stated that profits in the raw materials manufacturing sector grew rapidly. From January to May, profits of enterprises above designated size in the raw materials manufacturing sector increased by 83.1% year-on-year, contributing 10.2 percentage points to the overall profit growth of industrial enterprises above designated size. By industry, driven by increased demand from emerging industries such as new energy and artificial intelligence, prices of products such as copper and aluminum remained at high levels, pushing profits in the non-ferrous metals industry to increase by 117.1%, contributing 5.3 percentage points to the overall profit growth of industrial enterprises above designated size. Driven by rising prices of products related to the petroleum industry chain, the petroleum processing industry turned a profit year-on-year, and the chemical industry saw a profit increase of 71.6%.

On June 27th, Yu Weining, Chief Statistician of the Industrial Statistics Department of the National Bureau of Statistics, interpreted the industrial enterprise profit data for January-May 2026. Yu stated that the profits of high-tech manufacturing maintained double-digit growth. From January to May, the profits of large-scale high-tech manufacturing enterprises increased by 44.7% year-on-year, contributing 8.0 percentage points to the overall profit growth of large-scale industrial enterprises, demonstrating its continued leading role. By industry, the semiconductor industry chain performed well. In electronic device manufacturing, the profits of optoelectronic device manufacturing and semiconductor discrete device manufacturing increased by 53.8% and 40.6% respectively; in electronic component and electronic special material manufacturing, the profits of electronic special material manufacturing and electronic circuit manufacturing increased by 665.4% and 19.7% respectively. The medical equipment and related industries saw rapid profit growth, with the profits of dental equipment and instruments manufacturing and hygiene materials and medical supplies manufacturing increasing by 26.4% and 23.2% respectively.

China's industrial profits rose 21.1% year-on-year in May, up from 24.70% in the previous month.

China's year-to-date profits for major industrial enterprises rose 18.8% in May, up from 18.20% in May.

On June 27, following the US military's airstrikes against Iran on June 26, US Vice President Vance stated that if Iran resorts to violence, it will face a military response. Vance posted on social media that day: "Iran signed a ceasefire agreement, and we have honored it. If they have objections to how the memorandum of understanding is being implemented, they can communicate directly by phone. But if violence is used, it will be met with a military response." Earlier on June 26, the US Central Command issued a statement saying that the US military launched strikes against Iran that day in response to the attack on a merchant ship transiting the Strait of Hormuz the previous day.

On June 27, Nasdaq announced that SpaceX (SPCX.O) will be included in the Nasdaq 100 Index, subject to final eligibility requirements. Funds tracking the index are expected to begin buying its shares after the market closes on July 6, before the formal inclusion. SpaceX is expected to have a weighting of less than 1% in this technology-heavy index.

IMF Chief Economist Guransha: The conflict involving Iran has not led to a further surge in oil prices, as countries have released strategic reserves and refineries have adjusted their production.

IMF Chief Economist Guransha: Following the implementation of tariffs by the United States, a new trade relationship has emerged that does not include the United States.

The US military stated that it will maintain a continued presence and remain vigilant to ensure that all provisions of the Iran nuclear deal are observed, implemented, and fully effective.

Market news: Zuckerberg urged Meta Platforms (META.O) to consider a partnership with PolyMarket.

S&P: Broad-based revenue resilience (including robust tariff revenue) should help mitigate the risk of a deterioration in the U.S. fiscal situation.

S&P: The resilience of the U.S. economy should be able to support robust fiscal revenues (including revenues from continued tariffs) and keep the fiscal deficit stable for the next few years.

S&P expects the Federal Reserve to continue grappling with the challenges of reducing inflation and addressing vulnerabilities in financial markets.