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US Oil Update: Crude Benchmarks Pare Gains as Diplomacy Spark Ceasefire Hopes

Crude benchmarks pared early 5% gains on Monday after Iran reportedly halted its strikes against Israel, while US President Donald Trump sparked cautious market optimism by claiming both sides are actively negotiating a ceasefire.Front-month West Texas Intermediate crude futures were up 0.6% to $91.09 per barrel, while Brent futures gained 1% to $94.03/bbl.Earlier in the session, prices gained 5% following a series of fresh Israeli airstrikes on targets in Iran and Lebanon.An announcement from Iran that its first wave of strikes against Israel since April had concluded calmed the market, alongside claims from Trump that both nations are pursuing an immediate ceasefire.While Iran state media reported a halt to active hostilities, Tehran reportedly issued a stark warning of "much more severe and crushing actions" if Israel conducts further aggression, notably in southern Lebanon.However, Trump stated via Truth Social that final peace negotiations are moving forward quickly, though he emphasized that a strict naval blockade will remain in full force until a final deal is secured.The geopolitical standoff has kept a heavy risk premium baked into oil prices due to ongoing disruptions to crucial energy flows through the Strait of Hormuz, analysts noted.Saxo Bank analyst said that "Despite repeated optimism from the US administration, a lasting peace agreement appears increasingly elusive.""The near-closure of the Strait of Hormuz continues to tighten global energy markets, with several oil majors warning that the window before physical shortages begin to emerge may be measured in weeks rather than months," they added.

Commodities45d ago

US Natural Gas Update: Futures Slip 2.5% in Early Trade as Milder Weather Outlook Weighs

US natural gas futures fell over 2.5% in early Monday trade, weighed down by forecasts for milder weather in the second half of the month, ample domestic inventories and weaker liquefied natural gas export flows.The front month Henry Hub contract and the continuous contract price fell by 2.57% to about $3.15 per million British thermal units."US Gas markets continue their descent as weather outlooks for the second half of June shift more mild and take some of the potential gas demands for power generation significantly lower," Gary Cunningham of Tradition Energy said in a note."We are up against some support at $3.13 but if we drop through it we could tier to the cushion between $3.08 and $3.06," he added.According to data from Baker Hughes (BKR) released Friday, the number of gas rigs in the US slipped by one to 124 in the week ending June 5, compared with 125 in the previous week.The recent decline in output has helped stave off the surplus in storage but inventories are still 5% higher than the seasonal five-year average, indicating comfortable supply levels going into summer, Trading Economics said.Meanwhile, net flows to major LNG export terminals has averaged 16.4 billion cubic feet per day in June, compared to 17.1 bcfd in May, with maintenance work at several facilities limiting exports, Trading Economics added.

Wire45d ago

EXoZymes Prices $5.3 Million Offering

EXoZymes (EXOZ) has priced its public offering of units, consisting of two shares of common stock and one common stock purchase warrant, at $18 per unit, with estimated gross proceeds of $5.3 million, the company said Monday.The company also granted the underwriter a 45-day option to purchase up to 44,420 units at the offering price, it said.Proceeds will be used to further develop N-trans-caffeoyltyramine opportunities associated with EXoZymes' NCT business, the company said.The offering is slated to close on Tuesday.Shares of the company were up 5.4% in early Monday trading.Price: $9.49, Change: $+0.49, Percent Change: +5.44%

$EXOZ

US Markets45d ago

Incyte To Acquire Vega Therapeutics For Up To $2 Billion

Incyte (INCY) agreed to acquire Star Therapeutics unit Vega Therapeutics in a deal worth up to $2 billion, expanding its hematology portfolio into bleeding disorders.Star Therapeutics will receive $1.25 billion upfront, with up to $750 million in milestones payments, biopharmaceutical company Incyte said Monday.Vega Therapeutics' lead candidate, VGA039, improves hemostasis that helps control blood loss in bleeding disorders, Incyte said. The investigational drug is currently in a late-stage trial for patients with von Willebrand disease, the most common inherited bleeding disorder."VGA039 fits directly into our strategy of building a top-tier growth company for the future," Incyte Chief Executive Bill Meury said in a statement. "It is a first-in-class, phase 3 asset with compelling early data, a manageable development path and the potential to become an important new growth driver in one of our core therapeutic areas -- hematology."The transaction is expected to close in the third quarter."VGA039 will be advanced by Incyte," Star Therapeutics CEO Adam Rosenthal said.Incyte expects the Hart-Scott-Rodino review to result in a research-and-development charge of about $1.25 billion in third-quarter and full-year results.Price: $103.24, Change: $+0.86, Percent Change: +0.84%

$INCY

Wire45d ago

Polyrizon Advances Nasarix Study With 3 Major US Trial Sites

Polyrizon (PLRZ) has secured agreements with three US clinical sites for its upcoming Nasarix trial, marking a key step toward initiating its multi-center study in seasonal allergic rhinitis, the company said Monday.The sites represent major enrollment centers expected to support patient recruitment for the study evaluating the safety, tolerability and efficacy of its intranasal hydrogel allergy blocker.Polyrizon said the trial will compare Nasarix with saline spray in patients with seasonal allergic rhinitis, with up to five US sites expected to participate in total.Shares of Polyrizon were down more than 3% in Monday trading.Price: $12.73, Change: $-0.48, Percent Change: -3.63%

$PLRZ

Wire45d ago

BOS Better Online Solutions Says US, India Orders Rise to $7.1 Million

BOS Better Online Solutions (BOSC) said Monday it received $7.1 million in combined orders from the US and India in the first five months of 2026, up from about $1.5 million a year earlier.Orders from India rose to $4.3 million from $850,000 in the same period a year ago, while US orders increased to $2.8 million from $650,000, the company said.Chief Executive Eyal Cohen said the company expects 2026 revenue to surpass $51 million.Shares of BOS Better Online Solutions were up 3% in early Monday trading.Price: $4.28, Change: $+0.13, Percent Change: +3.04%

$BOSC

Treasury45d ago

Rosenberg Research Notes A Youth Hiring Spree In Canada's Jobs Report Despite Other Less Optimistic Takeaways

Canadian employment rose by 87,800 in May, a much stronger than expected reading given the consensus expectation of a gain of 10,000, said Rosenberg Research after Friday's Labour Force Survey (LFS).This was a sharp rebound from the decline of 17,700 in April. There were other strong elements to the report, including the fact that the unemployment rate fell to 6.6% from 6.9%. It had been expected to remain unchanged. As well, full-time employment rose by 154,000. That was the largest one-month increase in full-time employment since February 2022.Turning down the optimism a few notches, average hourly wages of permanent employees slowed to 3.2% year over year, from 4.8% in April, versus the expectation of 4.6%. In the month, wages fell by 0.9% month-over-month after seasonal adjustment, the largest drop since June 2020 during the height of the pandemic.Digging into the full-time employment gains, Rosenberg sees that most of the increase came in the youth category, which jumped by 98,700. This is notable given the many stories about the employment challenges facing Canadian youth. Rosenberg doesn't think those challenges are gone.As well, given the saw-tooth pattern of data from this report, Rosenberg thinks that the June LFS might reverse much of this.However, as youth tend to be lower-paid, the strong employment growth here would tip average hourly wages lower. This also suggests that the survey wasn't as "rock-solid" as the headlines suggest, according to Rosenberg.The rest of the increase in full-time employment was among those 25 years of age and over. The 55,300 rise was a good result. However, the annual growth rate in this cohort was 0.8%, down slightly from April's 0.9% rate, and the sixth time in the past seven months that there has been a sub-1.0% reading.This points toward sluggish job growth, more in keeping with "mediocre" economic growth, it added.As a consequence, beyond the headlines, Rosenberg sees an economy that is barely scraping by, with wage growth.

$CXY

Wire45d ago

Lixiang Education Regains Compliance With Nasdaq Market-Value Requirement; Shares Fall 10%

Lixiang Education (LXEH) shares were down more than 10% in Monday trading after it said it has regained compliance with Nasdaq Stock Market listing rules.The company said it met the criteria by having a minimum market value of publicly held shares of $5 million for at least 10 consecutive business days.Lixiang Education had been notified by Nasdaq in February that it had fallen out of compliance with its listing rules.Price: $1.17, Change: $-0.13, Percent Change: -10.00%

$LXEH

Sectors45d ago

Natural Gas Prices Fall Again on Mild Long-Term Forecasts

Natural gas traded lower for a second day early on Monday as mild long-term forecasts look to cut into cooling demand.Gas for July delivery was last seen down US$0.10 to US$3.13 per million British thermal units.The drop comes as the National Weather Service's eight to 14 day forecast expects most states between the Rocky Mountains and the Mississippi River to see cooler than seasonal temperatures over the period, lowering demand for air conditioning.Supply remains robust, with the Energy Information Administration last week reporting stocks of the fuel stocks of the fuel ended the prior week at 2.58-trillion cubic feet, 5.7% above the five-year average.

$NGN6$UNG

Mining & Metals45d ago

Reconnaissance Energy Africa Starts Production Testing at Kavango West 1X Discovery

Reconnaissance Energy Africa (RECO.V) along with partners NAMCOR and BW Energy, have started production testing operations at Kavango West 1X, it said on Monday.A total of six optimized intervals, encompassing 420 meters of hydrocarbon bearing section is to be isolated and tested across the Huttenburg and Elandshoek formations, it said. The KW1X well would be temporarily abandoned and available as a future producing well, following a successful production test."While permitting requirements for the transportation of the downhole testing equipment from North America to the Kavango West 1X drill site experienced minor delays, ReconAfrica continues to target disclosure of production test results to all stakeholders by late July," said the company in a statement. "ReconAfrica continues to take the steps required to advance appraisal drilling locations on the Kavango discovery following the completion of the production test at KW1X."Preparations for the appraisal well are proceeding with specific permitting applications and site preparations underway for the Kavango West 2A appraisal well. The company plans to spud this well before the end of the third quarter of this year pending final permitting and regulatory approvals.Shares of the company closed down 8.3% to $1.11 on Friday on the TSX Venture Exchange.

$RECO.V

Equities45d ago

Alliance Resource Partners to Buy Certain AllDale Minerals Interests for $206.2 Million

Alliance Resource Partners (ARLP) said Monday it has agreed to acquire certain general partner and limited partner interests in AllDale Minerals III and AllDale Minerals IV for approximately $206.2 million.The diversified natural resource company said the deal implies a combined gross valuation of approximately $410.0 million for AllDale III and IV.It also said the general partner and limited partner interests being sold are valued at approximately $306.2 million, of which $206.2 million will be acquired by Alliance Resource Partners, and $100 million will be acquired by related parties of the company's Chairman, President, and Chief Executive Officer Joseph W. Craft III.The transaction is expected to close in July, subject to customary closing conditions. The terms were approved by the conflicts committee of the board of directors of Alliance Resource Partners' general partner, the company said.Units of Alliance Resource Partners were recently up nearly 2% on Monday.

$ARLP

Wire45d ago

Enigmatig Says Internal Review Finds No Cause for Recent Share Volatility

Enigmatig (EGG) said Monday an internal review found no undisclosed material developments or other factors that would explain recent volatility in its shares.The company said it issued the statement in accordance with NYSE American requirements following unusual trading activity in its shares on June 4 and June 5.Shares of the company were over 14% higher in early trading Monday.Price: $6.30, Change: $+0.79, Percent Change: +14.34%

$EGG

Wire45d ago

IQSTEL Board Approves Share Buyback Program

IQSTEL (IQST) said Monday its board has approved a share buyback program of up to 1 million shares.The company said the program will be backed by cash dividends received from QXTEL, one of its operating subsidiaries.Price: $1.09, Change: $+0.12, Percent Change: +12.81%

$IQST

Oil & Energy45d ago

EMEA Oil Update: Oil Trims Gains on Hopes of Israel-Iran Ceasefire

Crude oil prices spiked over 5% before cooling on Monday after Iran announced its latest missile strikes against Israel had concluded and US President Donald Trump indicated both nations are seeking an immediate ceasefire.Front-month Murban futures were up 0.3% to $90.95 per barrel, while Brent futures added 1.9% to $94.82/bbl.Earlier in the session, prices gained 5% following a series of fresh Israeli airstrikes on targets in Iran and Lebanon.While Iran state media reported a halt to active hostilities, Tehran reportedly issued a stark warning of "much more severe and crushing actions" if Israel conducts further aggression, notably in southern Lebanon.The geopolitical standoff baked a heavy risk premium into oil prices due to disruption to crucial energy flows through the Strait of Hormuz, analysts noted."Brent crude jumped more than 3% in early Asia trading Monday after Iran fired missiles at Israel. Oil had already been elevated due to the ongoing Iran war disrupting Strait of Hormuz flows, with HSBC describing commodities as being in a super-squeeze," Saxo Bank analysts said.Trump stated via Truth Social that final peace negotiations are moving forward quickly, though he emphasized that a naval blockade will remain in full force until a final deal is secured.While the potential for diplomatic breakthroughs capped Monday's initial price rally, analysts warn that the underlying physical market remains tight and highly sensitive to any further shocks.

Sectors45d ago

Sector Update: Energy Stocks Advance Premarket Monday

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.7% higher.The United States Oil Fund (USO) was up 1.9% and the United States Natural Gas Fund (UNG) was 2.8% lower.Front-month US West Texas Intermediate crude oil was 1.3% higher at $91.69 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.7% to $94.68 per barrel, and natural gas futures were down 3.1% at $3.13 per 1 million British Thermal Units.Eni (E) and Petronas have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia, the companies said. Shares of Eni were up more than 1% pre-bell.Devon Energy (DVN) stock was up more than 1% after the company said between 66% and 98% of notes across seven bond series were tendered early to its exchange offers.SLB (SLB) said its OneSubsea joint venture won a contract from BP (BP) to provide a subsea boosting system for the Thunder Horse development in the Gulf of America. SLB shares were 0.5% higher premarket.

$BP$DVN$E$SLB$UNG$USO$XLE

Mining & Metals45d ago

Revival Gold to Acquire Land Contiguous to Its Mercur Gold Project

Revival Gold (RVG.V) announced Monday that pursuant to an agreement dated June 5, 2026, between its wholly owned subsidiary, Revival Gold (Utah) Inc, and an arms length private landowner, Revival Gold will acquire a 278 hectares (686 acres) parcel of land which is contiguous to the company's Mercur Gold Project in Tooele County, Utah.The company will pay the vendor around US$1.9 million, in consideration for the acquisition.Closing of the agreement is subject to certain customary terms and conditions and is expected to close on or around July 1, 2026."The Acquisition secures a buffer area of private land contiguous to Mercur," added the company. "The Company already owns the mineral rights for the property, and the Acquisition positions the Company to benefit with respect to the potential development of site infrastructure by allowing a potentially more direct transportation route from the South Mercur area of mineralization to the currently contemplated location of heap leach facilities in the West Mercur area."

$RVG.V

Sectors45d ago

Sector Update: Financial Stocks Edge Lower Premarket Monday

Financial stocks were edging lower premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) falling by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.6% higher.Goldman Sachs-backed (GS) taxi booking app Go priced its initial public offering in Japan at 2,400 Japanese yen ($14.98) per share, according to a regulatory filing. Shares of Goldman Sachs Group were up more than 1% pre-bell.Blackstone (BX) is preparing to offload more than $2 billion in private fund stakes through a structured bond deal, the Financial Times reported. Blackstone stock was 0.9% higher premarket.Ares Capital (ARCC) established its inaugural commercial paper program, allowing the company to issue up to $1 billion of short-term unsecured commercial paper notes, the company said in a filing. Ares Capital shares were up 0.5% pre-bell.

$ARCC$BX$FAS$FAZ$GS$XLF

Sectors45d ago

Gold Gives Up All Its Gains This Year as Rising Oil Prices Heighten Inflation Worries

Gold fell to a fresh five-month low early on Monday, falling for a second day as oil prices rose again after Iran and Israel traded strikes on the weekend, heightening concerns central banks will need to raise interest rates to combat the inflation that has followed higher energy costs.Gold for June delivery was last seen down US$8.20 to US$4,357.10, the lowest since Jan. 2.The drop comes as Iran on the weekend launched strikes on Israel to deter Israel's occupation of southern Lebanon and end its attacks on Beirut in its war on the Iran-backed Hezbollah militant group. The renewed hostilities are testing the two-month ceasefire between Iran and the United States, as talks between the two countries are stalled due to Iran's insistence Israel first must end its war in Lebanon. The fighting is lowering hopes for a peace deal that would reopen the Strait of Hormuz, freeing up the oil exports from Persian Gulf nations that supplied 20% of daily oil demand and ending the largest-ever supply shock and boosted inflation.May U.S. consumer price data will be released on Wednesday, with the consensus estimate expecting the Consumer Price Index to rise to 4.2% annualized from 3.8% in April."Gold ... extended Friday's selloff as renewed Israeli strikes on Iran pushed oil prices higher, reigniting inflation concerns. On Friday, an already weakened precious metals market tumbled after a stronger-than-expected US jobs report reinforced expectations that the Federal Reserve may need to hike rates in 2026.," Saxo Bank wrote.The drop comes even as the dollar moved lower, with the ICE dollar index last seen down 0.12 points to 99.95, falling off the highest since March 30. Treasury yields were mostly steady, with the yield on the U.S. two-year note last seen unchanged at 4.147%, while the 10-year note was paying 4.532%, up 0.1 basis points.

$GCN6$GLD

Commodities45d ago

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday as Chip Stocks Rebound

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.9% in Monday's premarket activity, as semiconductor shares rebound from Friday's selloff.US stock futures were also higher, with S&P 500 Index futures up 0.8%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 1.4% before the start of regular trading.The New York Fed's inflation expectations report for May will be released at 11 am ET.In premarket action, bitcoin was up by 3.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.4% higher, Ether ETF (EETH) advanced 6.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.01%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, while the Vanguard Industrials Index Fund (VIS) was up 0.8% and the iShares US Industrials ETF (IYJ) was inactive.Graham (GHM) stock was down more than 7% before the opening bell after the company reported lower fiscal Q4 adjusted net income.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 1.8%, and the iShares US Technology ETF (IYW) was 1.8% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 3.8%, while the iShares Semiconductor ETF (SOXX) rose by 4.1%.Nvidia (NVDA) shares were up more than 2% in premarket activity after dropping by 6.2% on Friday. The company will expand artificial intelligence infrastructure in South Korea, beginning with a 55-megawatt deployment at Naver's GAK Sejong data center. The chipmaker also closed a multi-year deal with SK hynix to design future generations of artificial intelligence memory hardware.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.8%. The iShares US Consumer Staples ETF (IYK) advanced by 0.1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.8%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) rose by 1%.Ingredion (INGR) shares were up 0.8% pre-bell after the company said it has launched an all-cash tender offer to acquire Tate & Lyle, valuing the specialty ingredients company at about 3.7 billion British pounds ($5 billion).HealthcareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%, the Vanguard Health Care Index Fund (VHT) was down 0.2%, while the iShares US Healthcare ETF (IYH) slipped 0.2%. The iShares Biotechnology ETF (IBB) was 0.2% higher.Eli Lilly (LLY) stock was up more than 1% premarket after the drugmaker said its experimental obesity drug retatrutide delivered significant weight loss in two clinical studies and showed "meaningful" improvements in knee osteoarthritis pain and sleep apnea.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Blackstone (BX) shares were up 0.4% pre-bell after closing Friday with a 2.7% fall. The Financial Times reported the company is preparing to offload more than $2 billion in private fund stakes through a structured bond deal.EnergyThe iShares US Energy ETF (IYE) was up 0.7%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.7%.Eni (E) stock was up nearly 1% before the opening bell, following a 1.1% decline in the prior trading session. Petronas and Eni said they have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.9% to $91.33 per barrel on the New York Mercantile Exchange. Natural gas was down 2.9% to $3.13 per 1 million British Thermal Units. The United States Oil Fund (USO) advanced by 2%, while the United States Natural Gas Fund (UNG) was 2.4% lower.Gold futures for July retreated by 0.3% to $4,354.00 an ounce on the Comex. Silver futures declined by 0.7% to $68.60 an ounce. SPDR Gold Shares (GLD) was up by 0.2%, and the iShares Silver Trust (SLV) increased by 0.5%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BX$E$EEM$EETH$EXI$FAS$FAZ$GHM$GLD$IBB$IGM$IGV$INGR$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LLY$NVDA$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Sectors45d ago

Sector Update: Healthcare Stocks Steady Pre-Bell Monday

Healthcare stocks were steady pre-bell Monday, with the iShares Biotechnology ETF (IBB) inactive and the State Street Health Care Select Sector SPDR ETF (XLV) up a slight 0.1%.Tango Therapeutics (TNGX) shares were up more than 45% after the company said initial results from its phase 1/2 trial of vopimetostat in combination with Revolution Medicines' inhibitor daraxonrasib showed a six-month progression-free survival rate of 90% in patients with pancreatic cancer.Eli Lilly (LLY) shares were up more than 2% after the company said additional phase 3 data showed that retatrutide achieved substantial weight loss with "meaningful" improvements in obesity-related conditions, including knee osteoarthritis pain, moderate-to-severe obstructive sleep apnea, and type 2 diabetes.Shattuck Labs (STTK) said its phase 1 study of SL-325, a treatment for immune-related disease, showed good safety results and consistent drug performance in healthy volunteers. Shattuck Labs stock was up more than 14% premarket.

$IBB$LLY$STTK$TNGX$XLV

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Commodities45d ago