Three sources said OPEC+ is likely to agree to raise July crude output quotas by about 188,000 b/d, matching June’s increase and down from a previously considered 206,000 b/d after the UAE’s unexpected May withdrawal. The sources said an Iran-related conflict has so far prevented some members from meeting prior ramp-up targets; if approved, the move would signal OPEC+ is gradually returning to normal operations despite disruptions including a Strait of Hormuz blockade and the UAE exit.

Shanghai Gold Exchange gold T+D early session on June 1 rose 0.64% to 986.8 yuan/gram; SGE silver T+D fell 1.13% to 18,052 yuan/kg.

China's Central Air Traffic Management Office, together with the National Development and Reform Commission, Ministry of Public Security and the Civil Aviation Administration of China, has designated fixed dedicated airspace for drones within controlled airspace in Shanghai and Sichuan, and will adopt a "government coordinated management, industry-guided supervision, user report-and-fly" model to enable continuous, fine-grained safeguarding of airspace resources.