Finance

Crude oil futures experienced significant declines, with Brent and West Texas Intermediate dropping to their lowest levels since early March. The downward trend follows the announcement of a deal intended to end the naval blockade of Iranian ports and resume global supply flows through vital maritime corridors by the end of the week.

Semiconductor and AI-linked stocks led recent market gains, with Nvidia and Western Digital posting substantial increases due to surging data-center demand. Market enthusiasm was further bolstered by SpaceX, which saw its market capitalization climb significantly in the sessions following its record-breaking initial public offering.

Despite a headline inflation rate of 4.2% in May, investors are closely watching the Federal Reserve's June policy meeting as energy price pressures begin to subside. While some analysts anticipate a continued pause in rate hikes, others note that the likelihood of a future increase remains high if strong employment and core inflationary pressures persist throughout 2026.