US President Trump says ships are starting to move through Hormuz and will be fully open by Friday; oil prices coming down rapidly
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US Export Prices YoY (May) Y/Y 11.2% (Prev. 8.8%)
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US President Trump says ships are starting to move through Hormuz and will be fully open by Friday; oil prices coming down rapidly
US PRE-MARKET MOVERS: Mag-7, SPCX, MBLY, EQIX, YUM, HOOD, HUN, PLAY
German Foreign Minister says there is a chance of peace talks taking place with Russia regarding Ukraine during the summer
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Iran:
- Think second stage of talks will happen on time
- Will release text of Iran agreement in formal setting.
- Wants formal signing to occur before the document is released.
- Will go over Iran MoU with media in a couple of days.
- Hormuz will be toll-free when it opens permanently.
- Would send Iran deal to Congress for review.
- Oil is now flowing.
- No rush on getting enriched Iran uranium, but when get it, will destroy it.
Russia:
- Soon will be able to do increased sanctions on Russia; cites oil flows for being able to increase sanctions.
- In position to let Russia oil waivers lapse.
UAE:
- Praises the UAE and touts US investment there.
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