Leaders of China and Iran are expected to meet on the sidelines of the Shanghai Cooperation summit this weekend, which Russian president Vladimir Putin will also attend. The three leaders will be gathering for the first time since the US withdrew from the Iran nuclear agreement, and discussion is expected to center on how to keep that deal alive.
In LNG, the market will keep an eye on the result of supply tenders from Angola and Russia this week to gauge price direction amid thin trading last week amid holidays in the US, UK and Singapore.
The petrochemicals market is expecting styrene prices to remain firm this week due to low inventory levels, but prices could taper off next week when plant maintenance in China comes to an end.
China's thermal coal imports could spike due to an expected spike in air-conditioning usage.
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