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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.
Source
Bloomberg Markets
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Supertankers laden with almost 80 million barrels of oil are sitting in the Persian Gulf and ready to cross the Strait of Hormuz at a moment’s notice, if traders and shipowners give the go-ahead.
Indonesia expanded its corruption probe into President Prabowo Subianto’s flagship, $15-billion free-meals program into foundations involved in the nationwide rollout of kitchens.
Andy Burnham has won a historic contest for an open UK parliamentary seat, paving the way for the Greater Manchester mayor to challenge Prime Minister Keir Starmer for his job. (Source: Bloomberg)
India’s state-run refiners have already secured enough crude for the next two months and are in no rush to resume purchases from the Middle East even if the Strait of Hormuz reopens to commercial traffic.
