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Commodities

UAE Energy Minister to BBG about leaving OPEC, says "Decision took after very careful and long review of all our strategies. Decision is taken at the right time in our view because it’s not going to hugely impact the market: the market is undersupplied”

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Today's market highlights

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Geopolitics

US Treasury official says the latest removal of sanctions on Iran is not indicative of any shift in US policy toward the Government of Iran, Fox's Heinrich reports

Fed

Fed's Kashkari (2026 voter, Hawkish dissenter) says now is the time to start slowly moving up rates, but not calling for dramatic rate hikes

Geopolitics

Arab sources report missile attack on Bahrain, Fars reports