Energy:
1. Indian Ministry of Commerce: India's oil imports in April totaled $18.63 billion.
2. India will cooperate with the UAE to expand its strategic oil and gas reserves.
3. Market news: The Trump administration is pushing to expedite oil licensing in Alaska.
4. The Strait of Hormuz crisis remains unresolved; the US continues to suspend exemptions for Russian crude oil sales.
5. Iraqi Oil Minister: Iraq exported 10 million barrels of crude oil through the Strait of Hormuz in April.
6. Affected by the disruption in the Strait of Hormuz, Saudi oil production has fallen to its lowest level since 1990.
7. US Energy Secretary Wright: The US will replenish its strategic oil reserves at a rate of 1.2 barrels to 1 barrel; the US can "easily" double its natural gas exports.
8. Indian government: Increases gasoline export tariffs by 3 rupees per liter, decreases diesel export tariffs by 16.5 rupees per liter, and decreases aviation kerosene export tariffs by 16 rupees per liter.
9. UAE Energy Minister: The UAE's decision to withdraw from OPEC and OPEC+ was a sovereign strategic choice, not based on political considerations, and does not reflect any disagreement between the UAE and its partners.
Precious Metals and Mining
1. India imposes import restrictions on some silver products.
2. Zimbabwe's state-owned diamond miner plans to increase production in 2026.
3. Indian Ministry of Trade: India's gold imports in April amounted to $5.63 billion.
4. Hong Kong media: The Hong Kong Stock Exchange will soon announce a new gold futures mechanism.
5. Goldman Sachs: Reiterates its target of $5,400/oz for gold by the end of 2026; central bank gold purchases are expected to increase, reaching an average of 60 tons per month by 2026.
6. JPMorgan Chase: Lowers its 2026 average gold price forecast from $5,708/oz to $5,243/oz; the base case scenario still expects gold prices to reach $6,000/oz by the end of the year.
Iran Situation
1. US media: Trump met with his national security team on Saturday and is expected to hold a meeting in the situation room on Tuesday.
2. Israeli media: Netanyahu and Trump spoke by phone to discuss the possibility of resuming hostilities against Iran.
3. BRICS Chairperson's Statement: BRICS countries emphasized the rights and freedoms of navigation in the Red Sea and the Straits of Pabuk Al-Mandab.
4. Iranian sources say the US has presented Iran with five key conditions: the transfer of 400 kilograms of enriched uranium to the US, no war reparations from the US, and permission for Iran to maintain only one operational nuclear facility, among others.
