US EIA Distillate Fuel Production Change (May/01) -0.024M

The slight decline in US EIA distillate fuel production could indicate tightened supply conditions in the energy market.

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"Members of the Security Council see the US-Gulf draft resolution as similar to the one opposed by Russia and China", Al Jazeera reports citing diplomatic sources

Some members of the Gulf Cooperation Council do not view the draft on Hormuz as being particularly different from the document vetoed last week

US EIA Distillate Fuel Production Change (May/01) -0.024M

No agreement has been formed between the US and Iran, Nournews reports citing sources. Narratives are part of a "media creation".

Iran's Foreign Ministry Spokesman says "The concept of “negotiations” requires, at the very least, a genuine attempt to engage in discussions with a view to resolving the dispute"

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This may raise concerns about inventory levels, impacting fuel prices and potentially influencing inflation, particularly with summer driving season approaching.

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