TRUMP: BEING WAITED BY A LARGE GROUP OF GENERALS ON IRAN
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TRUMP SAYS IRAN IS OUT OF WEAPONS, LEADERSHIP, NAVY, ARMY TRUMP SAYS WE WIPED OUT IRAN NAVY
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TRUMP SAYS IRAN IS OUT OF WEAPONS, LEADERSHIP, NAVY, ARMY
TRUMP SAYS WE WIPED OUT IRAN NAVY
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TRUMP SAYS WE WIPED OUT IRAN NAVY
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OPEC OUTPUT HITS 20-YEAR LOW AS HORMUZ CRISIS CHOKES EXPORTS
OPEC oil production fell 830,000 barrels a day in April to 20.04 million bpd, the lowest level in more than two decades, as the Iran conflict and Strait of Hormuz disruption slashed exports. (Reuters)
Kuwait posted the biggest decline after a full month of export disruptions, while Saudi Arabia and Iraq also cut output. The UAE was the only Gulf producer to raise production, using export routes that bypass Hormuz. Venezuela and Libya also increased output. (Reuters)
The drop came despite OPEC+ plans to increase production in April, with the war preventing the rollout of higher supply quotas. (Reuters)
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OPEC oil production fell 830,000 barrels a day in April to 20.04 million bpd, the lowest level in more than two decades, as the Iran conflict and Strait of Hormuz disruption slashed exports. (Reuters)
Kuwait posted the biggest decline after a full month of export disruptions, while Saudi Arabia and Iraq also cut output. The UAE was the only Gulf producer to raise production, using export routes that bypass Hormuz. Venezuela and Libya also increased output. (Reuters)
The drop came despite OPEC+ plans to increase production in April, with the war preventing the rollout of higher supply quotas. (Reuters)
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GOLD SEEN AT $5,000 AS ING FLAGS POLICY DRIVERS AND IRAN RISK
Gold could reach $5,000 by year-end despite volatility tied to U.S.-Iran peace prospects, according to ING analysts.
They say short-term moves remain driven by macro factors like real yields, the dollar, and Federal Reserve expectations, but easing headwinds should restore underlying support. A lasting resolution to the Iran conflict is seen as a key trigger for sustained gains.
Markets are now focused on Tuesday’s U.S. CPI data for rate outlook clues. Gold futures rose 0.1% to $4,736 an ounce.
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Gold could reach $5,000 by year-end despite volatility tied to U.S.-Iran peace prospects, according to ING analysts.
They say short-term moves remain driven by macro factors like real yields, the dollar, and Federal Reserve expectations, but easing headwinds should restore underlying support. A lasting resolution to the Iran conflict is seen as a key trigger for sustained gains.
Markets are now focused on Tuesday’s U.S. CPI data for rate outlook clues. Gold futures rose 0.1% to $4,736 an ounce.
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IRAN–US TALKS ON HOLD PENDING TRUMP–XI MEETING
Progress in Iran–US negotiations is unlikely before President Donald Trump’s meeting with Chinese President Xi Jinping this week, a regional source said.
The source said any movement will depend on the outcome of Trump’s Beijing visit. Iranian Foreign Minister Abbas Araghchi is expected to attend a BRICS foreign ministers’ meeting in Delhi on the same days, alongside officials from Saudi Arabia and Egypt, who are involved in backchannel efforts with Pakistan mediating.
China is also seen as a key actor in keeping dialogue alive, the source added.
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Progress in Iran–US negotiations is unlikely before President Donald Trump’s meeting with Chinese President Xi Jinping this week, a regional source said.
The source said any movement will depend on the outcome of Trump’s Beijing visit. Iranian Foreign Minister Abbas Araghchi is expected to attend a BRICS foreign ministers’ meeting in Delhi on the same days, alongside officials from Saudi Arabia and Egypt, who are involved in backchannel efforts with Pakistan mediating.
China is also seen as a key actor in keeping dialogue alive, the source added.
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IRAN SAYS NUCLEAR TECHNOLOGY NOT ON AGENDA OF US TALKS: IRIB
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BRENT TO STAY ABOVE $100 INTO 2026 AS SUPPLY BOTTLENECKS PERSIST
JPMorgan expects Brent crude to hold in the low-$100s through much of 2026, even if the Strait of Hormuz reopens in June, citing tight inventories and logistical constraints.
The bank says rapid stock draws and seasonal demand will push OECD inventories toward stress levels by August, keeping markets tight despite any reopening. It forecasts Brent averaging $96 in 2026, with peaks above $100 in mid-year quarters.
Analysts also warn that bottlenecks may shift to tanker capacity and refining limits, delaying normalization. Saudi Aramco’s CEO has separately called the current disruption the most severe ever, warning recovery could slip into 2027.
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JPMorgan expects Brent crude to hold in the low-$100s through much of 2026, even if the Strait of Hormuz reopens in June, citing tight inventories and logistical constraints.
The bank says rapid stock draws and seasonal demand will push OECD inventories toward stress levels by August, keeping markets tight despite any reopening. It forecasts Brent averaging $96 in 2026, with peaks above $100 in mid-year quarters.
Analysts also warn that bottlenecks may shift to tanker capacity and refining limits, delaying normalization. Saudi Aramco’s CEO has separately called the current disruption the most severe ever, warning recovery could slip into 2027.
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US SHOWS NUCLEAR SUB PRESENCE IN GIBRALTAR AFTER IRAN PEACE REJECTION
The Pentagon confirmed a U.S. Navy nuclear-armed Ohio-class submarine has docked in Gibraltar, a rare disclosure of a “boomer” deployment.
The Navy said the visit underscores U.S. capability and NATO commitment, noting the submarine is part of the nuclear triad’s most survivable strike force. The vessel’s identity was not disclosed.
The announcement comes shortly after President Donald Trump rejected Iran’s latest ceasefire proposal as “totally unacceptable,” and ahead of his planned meeting with Chinese President Xi Jinping this week.
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The Pentagon confirmed a U.S. Navy nuclear-armed Ohio-class submarine has docked in Gibraltar, a rare disclosure of a “boomer” deployment.
The Navy said the visit underscores U.S. capability and NATO commitment, noting the submarine is part of the nuclear triad’s most survivable strike force. The vessel’s identity was not disclosed.
The announcement comes shortly after President Donald Trump rejected Iran’s latest ceasefire proposal as “totally unacceptable,” and ahead of his planned meeting with Chinese President Xi Jinping this week.
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TRUMP REITERATES IRAN CAN'T HAVE NUCLEAR WEAPON
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GERMANS SLASH ENERGY USE AMID PRICE SPIKE FROM MIDDLE EAST CRISIS
About two-thirds of Germans are cutting energy consumption as prices rise due to the Middle East conflict, according to Verivox.
A survey shows 52% are using less electricity, 55% are turning down heating, and 47% are reducing hot water use. Nearly half of drivers say they are using their cars less, opting instead for bicycles and public transport.
The findings are based on a survey of over 1,000 people conducted by Innofact for Verivox.
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About two-thirds of Germans are cutting energy consumption as prices rise due to the Middle East conflict, according to Verivox.
A survey shows 52% are using less electricity, 55% are turning down heating, and 47% are reducing hot water use. Nearly half of drivers say they are using their cars less, opting instead for bicycles and public transport.
The findings are based on a survey of over 1,000 people conducted by Innofact for Verivox.
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TRUMP: IRANIANS SAID U.S. CAN HAVE NUCLEAR MATERIAL BUT WOULD HAVE TO TAKE IT OUT
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TRUMP COMPLAINS THAT IRAN AGREES WITH U.S., THEN REVERSES ITSELF
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