TASNIM NEWS: Senior Iranian officials said Trump's 'false claims' about contacts with Iranian officials are a pretext to avoid going to war with Iran.

BLS data show US headline CPI rose 4.2% YoY in May, the largest increase since early 2023, driven by higher energy prices linked to the Iran-related conflict. Core CPI (ex food and energy) rose 0.2% MoM (market est. 0.3%) and 2.9% YoY. The report shows offsets in items including transportation services, health insurance and new-vehicle prices. Economists warn headline pressures could persist and further upside in consumer prices would keep rate-hike options on the Fed’s table. Even if the conflict eases quickly, oil supply normalization may lag, sustaining cost pressures; fertilizer market disruptions risk lifting grocery prices over time and higher transport costs would push up consumer goods inflation.

DOE is soliciting proposals for swaps of up to 40 mln barrels of crude from the Strategic Petroleum Reserve sites Bryan Mound and Big Hill.