EIA data shows that U.S. strategic petroleum reserves fell by 7.993 million barrels to 357.1 million barrels in the week ending May 29, a decrease of 2.19%, the lowest level since the week ending January 19, 2024.

Russian Finance Ministry said government budget revenue from oil and gas sales was 678.9 bln rubles in May, down from 855.6 bln rubles in April.

Domestic News: 1. Shanghai issued a notice on "Several Opinions on Deepening the Construction of Shanghai as a Global Asset Management Center." 2. The State Council issued the "15th Five-Year Plan for Accelerating the Modernization of Agriculture and Rural Areas." 3. Unitree Technology's IPO application status on the Science and Technology Innovation Board changed to "Submitted for Registration." 4. 2.7653 million new A-share accounts were opened in May 2026, bringing the cumulative total for 2026 to 17.2967 million. 5. The central government allocated 99.9 billion yuan in childcare subsidies to support the implementation of the childcare subsidy system. 6. The Beijing Economic-Technological Development Area held a symposium for space computing companies to study and deploy the construction of a space computing innovation center. 7. Tiger International: Starting June 12, it will suspend new openings and additional trading of all instruments in China for existing investor accounts. International News: 1. Canada formally proposed to renew the USMCA (United States-Mexico-Canada Agreement) for another 16 years. 2. LME copper rose to $14,000/ton, nearing a record high. 3. Federal Reserve Chairman Warsh appointed two advisors, both conservatives. 4. Jensen Huang stated that Marvell Technology will become the next trillion-dollar company; the company closed up 32%. 5. The US lowered import tariffs on some steel, aluminum, and copper products, but plans to impose a 25% tariff on Brazilian imports. 6. Federal Reserve Chairman Hamak: Action may need to be taken soon to address high inflation. 7. Middle East Situation—① Iranian media: Information exchange between Iran and the US has been interrupted for several days. Trump: This is fake news; the US and Iran are having daily dialogues. ② Rubio stated that the US is negotiating with Iran; an agreement may be reached today, tomorrow, or next week. ③ Hezbollah does not accept a "partial ceasefire" with Israel; both sides continue to attack each other. Lebanese official sources revealed that the US is working to reach a comprehensive ceasefire agreement by the end of negotiations tomorrow. ④ Explosions were heard this morning on Qeshm Island in southern Iran; Iran attacked a US military base in Kuwait.