TAKAICHI, Japan's prime minister, said yen depreciation has both advantages and disadvantages.

UK-based maritime analytics firm Windward said satellite images show Iran's Kharg Island has resumed crude loading. Images from June 2 show a VLCC berthed near the west offshore terminal — the first confirmed docking since the facility halted operations in early May after a suspected oil leak. On June 3 a VLCC at the west berth and a Panamax at the east T-shaped jetty were simultaneously loading; by June 4 the VLCC had completed loading and departed while the Panamax remained alongside. Windward said dual-terminal activity suggests Iran is actively restoring export capacity. The firm also reported sustained high activity by the Islamic Revolutionary Guard Corps (IRGC) small fast boats across the Strait of Hormuz, indicating continued elevated readiness to support Iranian-linked shipping.

Russia's Deputy Prime Minister Novak said the oil market has not yet fully reflected the impact of the Middle East conflict, and oil inventories are being drawn down.