Crude has tumbled more than 10 percent this week on optimism for a lasting agreement between the two countries

Myanmar’s inflation spiked to nearly 25 percent as shocks from the Middle East conflict compounded the effects of the country’s civil war, the World Bank said Tuesday.

The Bank of Japan lifted its key policy rate to a 31-year high of 1.0 percent on Tuesday, warning of the risk of heightening inflation risks stemming from elevated crude oil prices due to the Middle East conflict and the weak yen.

Oil prices slid to fresh three-month lows on Tuesday as markets weighed prospects for a resumption of supplies through the Strait of Hormuz alongside weaker physical demand and scant details on a preliminary deal to end the Iran war.

Never bet against Donald Trump? The oil market appears to have made a risky wager from day one of the Iran war: The US president would not allow the conflict to spiral into a full-blown economic crisis. So traders wouldn’t price one in, no matter what was happening with physical supplies. It was a risky call, but it proved correct.

Revenue collection would be the main test of the budget’s credibility

The 0.6 percent year-on-year drop in May, revealed by the National Bureau of Statistics, was a big miss compared with the 0.2 percent forecast in a Bloomberg survey

Brent crude futures fell 25 cents, or 0.3 percent, to $82.92 a barrel

Gold rose more than 2 percent on Monday after US and Iran officials said they had reached an initial agreement to end their war, pushing oil prices lower and easing concerns about inflation and higher interest rates.

The US dollar traded around a 10-day low against other major currencies on Monday as a preliminary agreement to end the war between the US and Iran sent oil prices tumbling and boosted demand for riskier assets.

Oil prices slipped to a three-month low on Monday after US President Donald Trump and Iran’s deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz.

Elon Musk said on Sunday that his rocket company, SpaceX, could bring in $1 trillion in revenue by 2030, making the statement two days after the company went public, valuing it at over $2 trillion.

Anthropic’s most powerful chatbots are living up to their names. On Friday, the White House placed severe export controls on Mythos, a model purported to function as a hacking super-weapon, and Fable, a sanitized variant meant for public consumption.

Stakeholders say the industry should adapt quickly to global shift

Spot gold climbed 2.5 percent to $4,323.29 per ounce by 0536 GMT

US and Iranian officials said on Sunday they have agreed on a framework for a deal to end their war, halt the US blockade of Iran and reopen the Strait of Hormuz.

The two sides confirmed an announcement from mediator Pakistan, with a signing ceremony set to take place in Switzerland on June 19, bringing an end to three months of conflict that has sent energy prices soaring and revived fears of another inflation spike.

The extreme ​volatility of global oil prices has drained liquidity from the market this year at the fastest pace ‌on record, as investors have become increasingly wary of committing cash to an asset that has become hostage to US President Donald Trump’s daily social media posts on the Iran war.

Britain’s economy contracted in April as the Middle East war hit growth, official data showed Friday, dealing a setback to Prime Minister Keir Starmer as he grapples with a political crisis.

The dollar steadied on Friday but remained on track for a weekly loss, as markets monitored negotiations over a deal that could end the Middle East conflict. Traders were also digesting unprecedented demand for shares in SpaceX, which raised $75 billion in an initial public offering and jumped about 20 percent in its Nasdaq debut.