South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Oil prices traded in a narrow range on Monday as investors closely monitored upcoming Iran-U.S. nuclear talks and weighed the potential impact on global crude supply. Concerns that escalating tensions between Washington and Tehran could disrupt oil flows helped support prices, while expectations that OPEC+ may resume output increases from April capped gains.
Brent crude futures slipped 3 cents to $67.72 per barrel by 0156 GMT after finishing 23 cents higher in the previous session. U.S. West Texas Intermediate (WTI) crude fell 3 cents to $62.86 per barrel. There was no WTI settlement on Monday due to a U.S. holiday. Last week, both oil benchmarks recorded declines, with Brent crude down roughly 0.5% and WTI losing about 1%, as renewed optimism over a potential diplomatic breakthrough pressured prices.
Market sentiment shifted after U.S. President Donald Trump suggested that Washington could reach a deal with Iran within the next month. The two countries recently resumed negotiations aimed at resolving their long-standing dispute over Iran’s nuclear program and avoiding further military escalation. A second round of talks is scheduled to take place in Geneva on Tuesday.
An Iranian diplomat indicated that Tehran is pursuing a nuclear agreement that could unlock economic benefits, including energy and mining investments and potential aircraft purchases. However, analysts remain cautious. IG market analyst Tony Sycamore noted that expectations for a swift agreement are low, warning that the current stability in crude oil prices may represent a temporary pause in volatility.
Meanwhile, geopolitical risks remain elevated. The United States has deployed a second aircraft carrier to the region, preparing for potential military action if negotiations fail. Iran’s Revolutionary Guards have warned of retaliation against U.S. military bases in the event of an attack.
At the same time, OPEC+ is reportedly leaning toward resuming oil output hikes from April after a three-month pause to meet anticipated peak summer demand. Analysts suggest that without the geopolitical risk premium tied to Iran-U.S. tensions, WTI crude could be trading below $60 per barrel. Global trading activity is expected to remain subdued due to public holidays in China, South Korea, and Taiwan.
