美、布兩油日內跌幅達3%，現分別報89.70美元/桶和91.15美元/桶。

SPAIN, BRAZIL SIGN RARE EARTHS COOPERATION MOU

Federal Reserve Governor Christopher Waller said he is cautious about near-term rate cuts, citing an energy shock from the Iran conflict and risks of persistent inflation. He outlined two scenarios: if the Strait of Hormuz reopens and trade normalizes, the Fed could look through energy price spikes and consider cuts later this year as inflation trends toward 2% and the labor market softens. However, he warned markets may be underpricing a prolonged conflict, which could keep energy costs high and feed into broader prices, limiting policy flexibility. In that case, Waller said rates may need to remain at current levels. He added that sharply lower immigration reduces the need for job growth to absorb workers, shaping the policy outlook.