White House National Economic Council Director Hassett: Energy prices will fall once the Strait of Hormuz is opened.

Energy: 1. Workers at Australia's Ichthys LNG project cancelled their strike plans. 2. India's Reliance Industries Group reported a 38% month-on-month decrease in Russian crude oil imports in April. 3. Sources indicate that the Caspian Pipeline Union's oil exports increased by 5% in April compared to March. 4. Sources: Russia's Sizlan refinery halted oil processing following the drone attack on May 21. 5. The Kremlin: Russia's natural gas prices for Armenia are very attractive, but Armenia will lose these favorable prices if it abandons the integration process. 6. Between April and May 21 this year, India's gas turbine generators produced approximately 3.6 billion kilowatt-hours of electricity, marking the lowest level for that period in at least six years. Precious Metals and Mining: 1. A landslide at an illegal gold mine in Angola killed 28 people. 2. Bank of America maintained its 12-month gold price target of $6,000/ounce, acknowledging short-term pressure but maintaining a bullish medium-term outlook. 3. A 6.9-magnitude earthquake struck the Antofagasta region in northern Chile. Chile's state-owned copper company reported that some operations at its mines were suspended due to the earthquake. 4. Guinea, the world's largest bauxite producer, plans to announce reforms next month to control bauxite exports, aiming to boost market prices. Other: 1. Russian wheat export prices rose again due to a stronger ruble and farmers' reluctance to sell. 2. Shipping data released Monday by industry sources showed that Russia's seaborne grain exports in April increased to 4.9 million tons, a year-on-year increase of 100.1%. 3. Reports indicate that Iran will open the Strait of Hormuz within 30 days of the agreement being reached, extending the ceasefire for 60 days. 4. The US military conducted a self-defense strike in southern Iran. US officials stated that the strike was "defensive" and did not signify the end of the ceasefire. 5. The US Secretary of State stated that the Strait of Hormuz must be opened under any circumstances. The agreement expected to be reached with Iran may require "a few more days" of wording negotiations.

U.S. Secretary of State Rubio: (Regarding Iran) I think there has been a lot of back-and-forth consultation and discussion around the specific wording in the preliminary documents.