Spot silver plunged 6% intraday to $69.44/oz.

Russian Foreign Minister Lavrov said at the St. Petersburg International Economic Forum on June 4 that Moscow has updated its Gulf security concept and submitted it to the Gulf Cooperation Council (GCC) and Iran, and is awaiting responses. The proposal affirms a non‑aggression principle and calls for consultations to: sign an agreement to increase military transparency and constrain military actions and exercise preparations; and adopt a package of confidence‑building measures. Deputy Foreign Minister Ryabkov said on June 1 that Russia has prepared the concept and is ready, via diplomatic channels, to assist any subsequent U.S.‑Iran agreement.

西班牙石油產品戰略儲備公司：西班牙四月原油進口同比增長15.8%，達到560萬噸。