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Shell Trading US to Retain Offtake Rights; Deal Includes Upside Payments and Royalty Interests
Shell Trading US will retain offtake rights from the assets, with the deal also including upside-linked payments through 2027 and overriding royalty interests. The transaction remains subject to BP's 30-day preferential right to purchase.
Gold ETFs See Record Weekly Outflows of $4.7B
Global gold-backed ETFs recorded $4.7 billion in outflows last week, the largest weekly dollar withdrawal on record, led by North American funds.
US Withholds $6B Iranian Frozen Funds, Cites Unmet Obligations
The United States has not released any of the $6 billion in frozen Iranian funds designated for humanitarian goods, and will not do so until Tehran fulfills its obligations, a US administration official told the New York Post.
Israeli Officials: Troop Withdrawal Tied to Lebanese Army Action Against Hezbollah
Israeli security officials say any troop withdrawal from southern Lebanon depends on the Lebanese army meeting clear criteria to act against Hezbollah militants and infrastructure. No timeline has been set, but the process must be executed properly.
Chinese Chip Material Makers Challenge Japanese Dominance
Chinese chip material manufacturers are stepping up their challenge to Japanese rivals, targeting key markets and expanding capacity. Guangyuan New Material seeks to challenge Nittobo's T-Glass market share, Shengyi Tech boosts AI server component production, and Konfoong Materials plans a South Korea facility.
Copper Rises 0.7% as Traders Eye Hormuz Talks and Fed Outlook
Copper rose 0.7% to $13,375 per ton, trimming its monthly loss to 1.9%, as traders focus on U.S.-Iran peace talks in Doha and the Federal Reserve's interest rate outlook.
Bennett Warns of Syrian Leader Al-Sharaa, Calls Him 'Terrorist in a Suit'
Former Israeli Prime Minister Naftali Bennett urges extreme caution regarding Syria's Al-Sharaa, branding him a murderer and terrorist who has killed many people.
JD Vance Says Iran Denies Talks Publicly as US Negotiations Continue
JD Vance criticized Iran's public denial of ongoing peace talks while technical U.S.-Iran negotiations proceed, calling it a Persian negotiating tactic.
JD Vance: Xi's Inner Circle Split on AI Arms Race With US
Senator JD Vance claims Chinese President Xi Jinping's inner circle is divided between those pushing for AI dominance and those worried about losing the AI race to the U.S., suggesting Chinese leadership is rattled by recent AI developments.
JD Vance: Lebanon-Israel Dialogue Ongoing, Peace Deal Affirms Lebanese Territorial Integrity
JD Vance stated that Lebanon and Israel are now in direct dialogue, and a potential peace deal along with a US-Iran accord both affirm Lebanon's territorial integrity. He noted the situation has definitively changed but questioned its durability.
Brazil Considers Oil Export Tax, Distances Rural Debt Relief
Brazil is evaluating a tax on oil exports, while officials stress that any decision on rural debt renegotiation is separate from the proposed export tax.
US Chip Stocks on Historic Run: SOX Outperforms S&P 500 by 85 Percentage Points YTD
The Philadelphia Semiconductor Index (SOX) has surged 94% in 2026, beating the S&P 500 by 85 percentage points year-to-date, on pace for its best half-year outperformance in history, surpassing the Dot-Com Bubble record by 15 points.
BoE's Bailey says time to judge energy price pass-through
Bank of England Governor Andrew Bailey stated that policymakers have time to assess the pass-through of higher energy prices, noting that financial conditions have already tightened.
Iran Spokesperson Declines to Confirm Nuclear Talks Without Israeli Withdrawal Timetable
Iran's foreign ministry spokesperson Baghaei declined to directly confirm whether nuclear talks with the US would proceed without a timetable for Israel's military withdrawal from Lebanon, according to the New York Times.
ECB's Dolenc: July Rate Pause May Be Appropriate, No Urgency to Hike
ECB official Dolenc indicated that a pause in rate hikes in July may be appropriate given current data and subdued energy prices, but warned that Middle East uncertainty could shift the outlook.
Trump Hails Supreme Court Decision Overturning Humphrey's Executor as Win for Presidential Power
President Trump celebrated the Supreme Court's decision in the 'Slaughter Case,' which overturned the Humphrey's Executor rule, calling it a major victory for presidential power. He also noted a defeat on birthright citizenship, vowing to work with Congress.
Trump Calls for Legislative Action on Birthright Citizenship After Supreme Court Ruling
President Trump criticized the Supreme Court's decision to uphold birthright citizenship and urged Congress to pass legislation ending the policy without a constitutional amendment.
Canada GDP Rises 0.5% in April, Beats Estimates – RBC
Canada's GDP rose 0.5% in April, exceeding Statistics Canada's 0.4% advance estimate and marking the strongest monthly gain since July, according to RBC economist Abbey Xu.
TD Securities Sees US June NFP Slowing to 80k, Unemployment at 4.2%
TD Securities forecasts US nonfarm payrolls to slow to 80k in June, with unemployment edging down to 4.2%, tempering Fed rate hike risks.
US Supreme Court Strikes Down Trump Order Ending Birthright Citizenship
The US Supreme Court ruled 6-3 against President Trump's executive order that sought to end birthright citizenship for children of non-citizen parents.
SpinQ Technology Raises $147M in Series D for Fault-Tolerant Quantum Computers
Chinese quantum computing firm SpinQ Technology has completed a Series D funding round of 1 billion yuan (about $147 million) to develop fault-tolerant quantum computers.
WTI Oil Rises to $70.80 as Hormuz Shipping Improves
West Texas Intermediate crude edged up to around $70.80 per barrel on Tuesday, supported by improving shipping conditions in the Strait of Hormuz and a mixed risk environment.
US JOLTS Job Openings Rise to 7.594M in May
Job openings in the US increased to 7.594 million in May, according to the latest JOLTS report from the Bureau of Labor Statistics, signaling continued tightness in the labor market.
Copper Under Pressure as China PMI Support Faces US Tariff Risk – Commerzbank
Commerzbank analyst Barbara Lambrecht notes that the LMEX base metals index remains under pressure even as China's manufacturing PMI edges above 50, providing some support for copper through AI-driven demand, but US tariff risks weigh.