IIR's June 2 Market Scorecard Brings You Breaking Geopolitical News

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Researched by Industrial Info Resources (Sugar Land, Texas)--Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies.

Event	MarCon*	IIR Comment	Outlet	IIR News
Hamas makes hostage pledge but demands changes to US Gaza ceasefire plan		Hamas responded to a US ceasefire proposal by saying it is prepared to release 10 living Israeli hostages and 18 dead hostages in exchange for a number of Palestinian prisoners, while requesting some amendments to the plan. The group repeated its demands for a permanent truce, a complete Israeli withdrawal from Gaza and guarantees for the continuous flow of humanitarian aid. None of these are in the deal on the table. It was neither an explicit rejection nor a clear acceptance of the US terms, which Washington says Israel has accepted.	BBC	EOG Resources, Record U.S. Crude Oil Output: Your Daily Energy News
In Russia Airfield Attacks, Ukraine Aims for Strategic and Symbolic Blow		Ukraine's drone attack on airfields deep inside Russia on Sunday was a strategic and symbolic blow that military analysts said was designed to slow Moscow's relentless bombing campaign and to demonstrate that Kyiv can still raise the cost of war for the Kremlin. Ukraine's security services, known as the S.B.U., said that 41 Russian aircraft were destroyed or damaged, which Mr. Zelensky said accounted for 34 percent of the strategic cruise-missile carriers at air bases across three time zones.	The New York Times	Appeals Court Pauses Block on Trump Tariffs
Oil leaps 4% after OPEC+ keeps output increase unchanged		Oil prices jumped by about 4% on Monday after producer group OPEC+ kept output increases in July at the same level as the previous two months. Sources familiar with OPEC+ talks said on Friday that the group could discuss an even larger increase. Oil traders said the 411,000 bpd increase had already been priced in to Brent and WTI futures. "Had they gone through with a surprise larger amount, then Monday's price open would have been pretty ugly indeed," Onyx Capital Group analyst Harry Tchilinguirian wrote on LinkedIn.	Reuters	U.S. Weekly Gasoline Demand Up, But Not Stellar
European autos stocks fall 2% as Trump's 50% steel tariffs inflate EU trade tensions Dow falls 300 points as global trade tensions rise to start the new month		The mood in equities remains downbeat in Europe, with the regional Stoxx 600 index lower at as investors eye the potential for escalating U.S.-EU tariffs. Autos stocks on the index are down 1.75%, technology stocks are down 1.2% and household goods are down 1%. The Dow Jones Industrial Average dipped Monday, the first trading day of June, as global trade tensions increased. China pushed back against U.S. accusations that it had violated a temporary trade agreement. Instead, the country blamed Washington for failing to uphold the deal - a sign that negotiations between the world's two largest economies are deteriorating.	CNBC	National Grid Turns U.S. Investments Toward T&D Buildouts Data Centers and Renewable Energy Join Forces to Attract Investments in Brazil
Natural Gas News: Will Cooling Demand Emerge or Extend Bearish Market Pressure?		U.S. natural gas prices ended the week under pressure, weighed down by persistent supply strength, soft domestic demand, and cooler-than-normal early summer weather. Traders remain focused on whether rising inventories and limited power burn will continue to cap any near-term upside, especially with early June forecasts offering little support for increased consumption. Prices could go into a free-fall on a sustained move under $3.468, however, traders have to be ready for a quick counter-trend reversal since we're in a weather market.	FX Empire	U.S. Grants Export Permission for Phase II of Sempra's Port Arthur LNG Project
China says U.S. violated tariff truce as trade war heats up		China on Monday said the Trump administration is undermining the temporary May 12 trade agreement between the two nations by issuing AI chip export control guidelines, stopping the sale of chip design software to China and by planning to revoke Chinese student visas. China's claims come after President Trump on Friday said that Beijing is violating a trade agreement with the U.S. Meanwhile, Treasury Secretary Scott Bessent on Sunday said he's "confident" a U.S.-China trade dispute "will be ironed out" when Mr. Trump and Chinese President Xi Jinping have a conversation. "I believe we'll see something very soon," Bessent said on "Face the Nation with Margaret Brennan."	CBS News	Greenland Open to China Minerals Deal if EU and U.S. Delay
Trump's 'Beautiful' Bill Casts a Cloud Over Hydrogen's Future		A week ago, the U.S. House of Representatives passed Trump's "Big, Beautiful Bill" designed to deploy large tax cuts, extra spending on defense and immigration enforcement by primarily leveraging deep cuts to the Inflation Reduction Act (IRA) of 2022. With the contentious bill now headed for the Senate, some energy experts are warning of dire consequences for some renewable energy industries if it becomes law. To wit, the sweeping policy bill seeks to phase out billions in tax credits for the budding green hydrogen and EV battery industries. Created under the Inflation Reduction Act during the Biden administration, the Section 45V tax credit has been a major boon for low-carbon hydrogen and ammonia projects across the country. While hydrogen loses ground, carbon capture survives intact, with 45Q tax credits preserved, for now.	OilPrice	CO2 Reduction Industry Stays Upbeat in the Face of Challenges
Week 05/27/25 - 06/02/25		Have we stepped "over the line" as Ukraine launched strikes deep into Russia and trade tensions are once again ratcheting up between both the U.S. and the EuroZone as well as China. At least Mr. Oil market is breathing a sigh of relief as OPEC+ "held the line" and did not commit to bringing yet more supply into a very tense and strained marketplace...one that is now witnessing economic markets being depressed further with geopolitical posturing and saber-rattling. Where we are headed next in this month of June is anybody's guess as "Uncertainty & Doubt" once again step boldly onto the World Stage...out of the wings as if they were but waiting for a line to be crossed...it but being a matter of time.
*MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR.

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