HUNGARY CENTRAL BANK governor Varga said the bank is committed to sustainably achieving its inf target; policy decisions will be driven by the inf outlook, global developments and the domestic risk premium.

IEA member governments said on Wednesday they support accelerating implementation of the oil reserve releases announced in March and aim to complete deliveries as soon as possible. Citing tight diesel supply, members also support prioritising diesel releases where conditions allow. Under the March collective action members have already released about 325 mln barrels, with some countries exceeding prior pledges. The IEA said if all pledged but not yet delivered volumes from March were released, roughly another 100 mln barrels would reach the market — signalling the recent focus on ~100 mln barrels is chiefly accelerated execution of March commitments, not a new emergency tranche. IEA members hold about 1.1 bln barrels of government-controlled emergency stocks, including more than 200 mln barrels of diesel, and stand ready to release further volumes if market conditions require.

Spot gold rose $10 intraday to a high of $4,127.20/oz. Spot silver gained 1.0% to $60.38/oz.