Market sources: several shipowners say they are no longer receiving threats via radio from the Islamic Revolutionary Guard Corps, which had been occurring a few weeks ago.

The WMO said in a June 2 report that most climate models project the current El Niño will develop to at least moderate strength and may intensify further. Monitoring shows equatorial central-eastern Pacific sea surface temperatures are near the El Niño threshold and subsurface waters display widespread warm anomalies, with some areas more than 6°C above normal, providing energy for continued warming over coming months. The WMO said El Niño will shift global temperature and precipitation patterns and increase the probability of heatwaves, droughts, heavy rainfall and floods. Its latest seasonal outlook projects most regions will see above‑normal temperatures in the coming months; South Asia, the Horn of Africa and parts of Central America face below‑normal rainfall and heightened drought risk.

Swiss National Bank Chairman Schlegel said the SNB has increased its willingness to intervene in FX markets.