AI Bias Analysis
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Oil headed for a substantial weekly drop as the US-Iran interim peace deal saw shipping through the Strait of Hormuz start to return to normal, easing the global crude market’s biggest ever supply shock.
Source
Bloomberg Markets
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Headline inflation edged up to 1.5% from 1.4%, while the so called "core-core" inflation rate, eased to 1.8% from 1.9%.
Trump said in an interview with Axios on Thursday evening stateside that he negotiated the deal to prevent the conflict from triggering a global depression.
South Korea’s producer prices rose in May at the fastest pace in nearly four years, as higher energy costs and a broad-based increase in industrial prices continued to filter through the economy.
BHP Group shares fell after the company flagged a $2.3 billion writedown on its giant potash mine in Canada due to cost and time overruns for an expansion of the project.
