Iranian state broadcaster on June 18 said the Islamic Revolutionary Guard Corps navy will continue to control the Strait of Hormuz. Eleven vessels were expected to arrive at an Iranian port that night, five of them oil tankers.

Xinhua reported on the 18th that BAGHAEI, Iran’s foreign ministry spokesman, said a meeting between Iran and the US scheduled for the 19th in Switzerland is not finalized. He said the event had been confirmed until a few hours earlier, but after the Iranian and US presidents remotely signed a memorandum of understanding, Iran has temporarily taken a 'wait-and-see' stance toward Friday’s talks.

ECB chief economist Lane said food prices are likely to continue rising even if oil prices fall.