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Crude oil rose then fell as Iran deal rumors grow, shifting focus from Hormuz fears to reopening.
Reports claim US–Iran draft deal finalized via Pakistan, featuring ceasefire, sanctions easing, and Hormuz navigation guarantees.
EIA reported a 101B natural gas storage build, exceeding the 96B forecast by 5B.
Oil prices slipped as Iran deal hopes rose, despite record US inventory draws and strong exports.
Iran keeps near-weapons-grade uranium; US seeks end to enrichment; risk-off sentiment lifts dollar, oil, pressures stocks.
French private-sector activity shrank in May; composite PMI hit 43.5 as oil prices, Iran war hammered demand.
USD/CHF climbed to 0.7870 as firm dollar, US-Iran tensions, and Fed rate-hike signals supported demand.
US crude stockpiles hit near-year lows as record exports surged amid Middle East conflict and Hormuz closure.
Russia’s producer price index jumped 6.1% month-on-month in April, accelerating sharply from March’s 2% increase.
EIA reported a 7.864 million-barrel crude stock draw, nearly 5 million more than the expected 2.9 million.
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