-
The United States and Iran carried out direct military strikes overnight, marking the most serious escalation since the conflict began. Iran shot down a U.S. Apache helicopter over the Strait of Hormuz, prompting U.S. strikes against Iranian air defense systems, radar installations, and command centers.
-
Tehran then launched retaliatory attacks against U.S. military bases in Bahrain, Kuwait, and Jordan. The conflict has clearly expanded beyond the Hormuz area, evolving into a broader regional confrontation.
-
Iran claims to have targeted a total of 21 sites associated with U.S. air and naval bases across the Middle East. The most significant target was reportedly the Al-Azraq Air Base in Jordan, including F-35 fighter hangars and command infrastructure. Reports also indicate drone attacks on Ali Al Salem Air Base in Kuwait and the U.S. Fifth Fleet headquarters in Bahrain. This demonstrates Tehran’s willingness to strike strategic U.S. military assets deployed across multiple countries in the region.
-
U.S. forces conducted three waves of precision strikes against Iranian military facilities near the Strait of Hormuz. Targets included installations on Qeshm Island, as well as sites in Sirik, Jask, and Bandar Abbas—the main naval command center of the Islamic Revolutionary Guard Corps (IRGC) responsible for operations in Hormuz.
-
Despite the significant military escalation, oil prices in Asia rose by only around 1%, and are currently declining by approximately 0.60–0.70%, with WTI and Brent trading near $88 and $91 per barrel, respectively. Such a muted reaction suggests that investors are waiting for confirmation of reports, an assessment of the extent of the damage, or signals that diplomatic channels remain open.
-
U.S. crude oil inventories declined for an eighth consecutive week. Yesterday’s API data showed a draw of 9.12 million barrels, while gasoline inventories also fell. This indicates that the U.S. fuel market is becoming increasingly tight even before the latest escalation of the conflict.
-
Japanese wholesale inflation reached its highest level since March 2023 in May. Import prices measured in yen rose by 25.5% year-over-year, marking the fastest pace since November 2022. This is particularly challenging for an economy heavily dependent on imported energy commodities.
-
China’s Producer Price Index (PPI) increased by 3.9% year-over-year in May, reaching its highest level in nearly four years and exceeding market expectations.
-
At the same time, consumer inflation (CPI) remained at 1.2% and came in below forecasts, while core inflation slowed further. This points to strong cost pressures at earlier stages of production alongside limited ability to pass those costs on to consumers. Higher producer prices in China could gradually feed through into global supply chains.
China: production costs surge while consumer demand remains weak 🔔
Economic Calendar: US CPI Inflation in Focus Amid Escalation in the Strait of Hormuz ⚔️
⚪Silver wipes out all gains from 2026 and approaches $60
Daily Summary- Return of the Sell-off on Wall Street⬇️
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
