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Commerzbank: Conflicting Demand Signals Weigh on Oil Outlook
Commerzbank analysts note that Brent and European gas prices edged up on renewed US-Iran tensions, but muted reactions reflect ample inventories and rerouted supply flows.
U.S. Indices Mixed at Open: S&P 500 and Nasdaq Fall, Dow Edges Higher
At the market open, the S&P 500 dropped 0.69%, the Nasdaq fell 1.20%, while the Dow Jones rose marginally by 0.05%.
US Central Command: Iranian Forces Did Not Attack Navy Warships
The US Central Command denied reports that Iranian forces fired at American warships, stating it would violate a ceasefire. US forces continue to enforce a blockade against Iran.
Commerzbank Warns US Aluminium Supply Strain Risks Demand Destruction
Commerzbank analyst Thu Lan Nguyen reports that US aluminium supply remains tight more than a year after tariffs, with a planned Oklahoma smelter blocked on environmental and ownership grounds, domestic production falling, and high prices and import premiums threatening demand destruction.
US Nonfarm Payrolls Surge to 172K in May, Far Above 85K Forecast
The US economy added 172,000 jobs in May, significantly exceeding the market consensus of 85,000, according to the Bureau of Labor Statistics.
US Nonfarm Payrolls rise by 172K in May vs. 85K forecast
The US added 172,000 jobs in May, sharply beating the 85,000 consensus estimate, according to the Bureau of Labor Statistics.
US Adds 172K Jobs in May, Far Above 85K Forecast
The US economy added 172,000 jobs in May, crushing the consensus estimate of 85,000. The unemployment rate held steady at 4.3%, with April's payrolls revised up by 64,000.
ING: Oil Inventory Decline Tightens Supply Outlook, Persian Gulf Flow Optimism Overstated
ING analysts Warren Patterson and Ewa Manthey say that oil is trading on overly optimistic expectations of resumed Persian Gulf flows, given stalled US-Iran talks and declining inventories that tighten the supply outlook.
Gold Demand Expected to Fall 2% in 2026 as Investment Rise Offsets Weaker Jewellery
According to Commerzbank citing Metals Focus, total gold demand is forecast to decline 2% in 2026, as weaker jewellery and central bank purchases are partly offset by stronger investment in bars and coins.
India Q1 GDP Grows 7.8% YoY, Beats Estimates
India's Q1 GDP expanded at 7.8% year-on-year, exceeding market expectations. The stronger-than-expected reading may influence the Indian Rupee and RBI policy outlook.
Rosneft CEO Sechin: No Country Can Replace Lost Middle East Oil; Warns $150 if Hormuz Closed
Rosneft CEO Igor Sechin stated that no country, including the US, can replace oil supply lost due to the Middle East crisis, and warned that oil prices could reach $150 per barrel if the Strait of Hormuz is closed.
Silver Falls 1.37% to $72.87 on Friday
Silver prices declined on Friday, dropping 1.37% to $72.87 per troy ounce, according to FXStreet data.
US Growth Holds as Inflation Surprises – Danske Bank
Danske Bank reports US economic growth slowed at the start of 2026 but remains more resilient than expected, while inflation delivers a surprise.
Brent Falls on US-Iran Hopes, Eases Inflation Fears
Deutsche Bank strategists note that Brent oil has reversed gains as hopes for a US-Iran deal ease stagflation concerns and lower inflation expectations.
Australia Weighs Response to China's Iron Ore Monopsony – Rabobank
Rabobank strategist Benjamin Picton notes Australian iron ore majors are taking steps to counter China's growing monopsony power.
US Economy Shows No Recession Signal 100 Days Into Iran Oil Shock
More than 100 days after the start of the Iran war and the resulting global oil supply disruption, the US economy has yet to exhibit a typical recession signal.
Fed Countdown Begins as US Inflation Data, Geopolitical Risks Loom
The countdown to the year's first Fed meeting, scheduled for June 17 under Chair Warsh, has begun. Key US inflation data and rising geopolitical tensions are in focus ahead of the decision.
China to Tighten Crackdown on Illegal Fund-Raising and Cross-Border Money Movement
China has announced stricter measures targeting illegal fundraising, embezzlement, fund misuse, unauthorized cross-border capital flows, and the role of private equity funds in illicit fundraising, according to a recent statement.
Stellantis to Install Solar Power at Two-Thirds of Its Factories, Plans Battery Storage at 20 Sites
Stellantis is expanding its renewable energy footprint in Europe by installing solar power at two-thirds of its factories and planning battery energy storage systems at 20 locations, with seven plants expected to be active by 2026.
Commerzbank Sees Oil Near $100 on Gulf Tensions
Commerzbank analysts warn that persistent geopolitical tensions in the Persian Gulf will keep oil prices near $100, with restricted Strait of Hormuz traffic driving inflation spillovers.
UBS Economist: US Jobs Report May Offer Weak Signal as Savings Shrink
UBS Chief Economist Paul Donovan warns that the upcoming US employment report could provide an unreliable picture of the labor market as consumer savings dwindle, with expectations of flat unemployment and job gains below 100,000.
Romania Defence Ministry: Object Not Army Equipment, Not in Black Sea Exercise
Romania's Defence Ministry clarified that an unidentified object is not part of the army's equipment and was not involved in recent Black Sea exercises, correcting an earlier statement.
Quantum Supremacy, Usefulness, Advantage: Key Differences Explained
A breakdown of the fundamental differences between quantum supremacy, usefulness, and advantage—terms often confused but representing distinct milestones in quantum computing evolution.
Oil Prices Stay Subdued Despite Hormuz Risk – Rabobank
Rabobank strategist Benjamin Picton notes that oil markets remain subdued even as the Strait of Hormuz is effectively closed, with Brent futures falling sharply.