Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Trump Orders DOJ Investigation Into Exxon, Chevron Over High Gas Prices 
US Supreme Court Strikes Down Hawaii Gun Carry Law on Private Property 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Iran Strait of Hormuz Tensions Rise After Ship Attack Delays IMO Escort Mission 
Cait Conley Wins Democratic Nomination, Sets Up Key House Battle Against Mike Lawler in New York 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Marco Rubio Reassures Gulf Allies Over U.S.-Iran Peace Deal 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
U.S. Secretary of State Marco Rubio held separate discussions on Monday with Australian Foreign Minister Penny Wong and British Foreign Secretary Yvette Cooper regarding the escalating Iran conflict and the ongoing disruption in the Strait of Hormuz, according to the U.S. State Department.
The talks focused on Iran and international efforts to restore freedom of navigation in the Strait of Hormuz, a critical global energy route that has been heavily impacted by the ongoing conflict. The strategic waterway previously handled nearly 20% of the world’s oil and liquefied natural gas shipments, making it one of the most important energy corridors globally.
The Iran war has caused severe instability in the energy market, with analysts describing the disruption as one of the largest in modern history. Iran has reportedly blocked most foreign vessels from passing through the Strait of Hormuz while allowing primarily Iranian ships to continue operations. At the same time, President Donald Trump has enforced a separate blockade targeting Iranian ports, further intensifying pressure on Tehran.
The conflict began on February 28 after coordinated U.S. and Israeli military strikes against Iran. Tehran responded with missile and drone attacks targeting Israel and Gulf nations hosting American military bases. Continued military operations in Iran and Lebanon have resulted in thousands of deaths and displaced millions across the region.
Trump stated Monday that the ceasefire reached with Iran more than a month ago was now “on life support,” raising fears of renewed fighting and deeper disruptions to global oil supplies. Crude oil prices remained volatile following the developments, with WTI crude trading near $98.89 per barrel.
The United States, United Kingdom, and Australia have also continued imposing sanctions on Iranian individuals and networks linked to the conflict, signaling ongoing Western pressure against Tehran amid rising geopolitical tensions in the Middle East.
