Gold Prices Drop as Strong Dollar, Rising U.S.-Iran Tensions Weigh on Market Sentiment 
Australian Consumer Sentiment Drops in June as Financial Concerns Weigh on Households 
US Dollar Edges Higher as Inflation Data and Middle East Tensions Shape Market Sentiment 
Japan Wholesale Inflation Accelerates to 6.3% in May, Exceeding Forecasts 
Asian Currencies Gain as U.S. Dollar Softens Ahead of Key Inflation Data in 2026 
US Stocks Rebound as Iran Eases Military Operations; Tech Shares Lead Wall Street Recovery 
Wall Street Rebounds as Chip Stocks Rally and Iran-Israel Tensions Ease 
Gordie Howe International Bridge Set to Open, Boosting U.S.-Canada Trade Links 
US Dollar Dips as Middle East Tensions Ease; Markets Await Key US Inflation Data 
Wall Street Slides as U.S.-Iran Tensions Escalate; Tech Stocks Extend Losses in 2026 
Vietnam Prioritizes Fiscal Stimulus as Monetary Policy Space Narrows 
Switzerland Population Cap Referendum Sparks Economic and Immigration Debate 
China Inflation Misses Forecast as Consumer Spending Stays Weak, Producer Prices Surge 
BOJ Rate Hike Expectations Rise as Weak Yen and Strong U.S. Jobs Data Increase Pressure 
New Zealand Unemployment and Inflation Debate Intensifies Ahead of 2026 Election 
China Trade Surplus Surges in May 2026 as Exports and AI-Driven Imports Accelerate 
Gold Prices Ease as Markets Await Key U.S. Inflation Data and Fed Rate Outlook 
Global oil prices climbed sharply on Wednesday as U.S. President Donald Trump intensified pressure on Iran, raising concerns over prolonged disruptions in the Middle East and tightening global energy supplies. Brent crude futures for August delivery rose 2.1% to $93.33 per barrel, while U.S. West Texas Intermediate (WTI) crude futures for July gained 2.4% to $90.27 per barrel.
The latest rally in crude oil prices followed Trump's remarks accusing Iran of delaying the signing of a negotiated peace agreement. The president warned that Tehran would face additional military action, stating that the United States would continue responding aggressively if progress toward a deal remained stalled. His comments dampened market hopes for a diplomatic resolution to the ongoing conflict, which has entered its fourth month.
Adding to market uncertainty, Trump disclosed a previously undisclosed U.S. military operation designed to help commercial vessels navigate the Strait of Hormuz. According to the president, more than 200 ships carrying over 100 million barrels of oil have safely passed through the critical waterway under U.S. protection. However, Energy Secretary Chris Wright later told lawmakers he was unaware of the operation, creating further questions about the mission.
Meanwhile, fresh economic data highlighted the growing impact of rising energy costs on the U.S. economy. Consumer inflation data for May showed energy prices jumping 23.5% year-over-year, while gasoline prices surged 40.5%, marking the strongest increases since 2022. Although headline inflation accelerated, softer core inflation readings eased some concerns among investors.
Supply concerns also supported higher oil prices. The U.S. Energy Information Administration reported that commercial crude inventories fell by 7.2 million barrels during the week ending June 5, significantly exceeding analyst expectations. Strategic Petroleum Reserve holdings declined to 349.2 million barrels, their lowest level since August 2023.
With geopolitical risks escalating, shrinking inventories, and persistent disruptions around the Strait of Hormuz, energy markets remain highly sensitive to developments in the Middle East, keeping oil prices elevated heading into the second half of 2026.
