Economy
HSBC analysts stated that commodities face a “super-squeeze” as the Strait of Hormuz remains largely closed into early June, with Polymarket pricing a 22% chance of reopening by month-end. Copper traded near $13,832 a ton on the LME. Goldman’s Aurelia Waltham raised end-2026 and average-2027 copper forecasts to $13,735 and $13,800, citing weaker mine supply, US stockpiling, tariff uncertainty, and demand from AI and grid projects. Goldman projects US inventories will rise by 900kt in 2026. Some reports have referenced ongoing negotiations that could ease disruptions in the Strait of Hormuz.
Additionally, European Commissioner Roxana Mînzatu stated that up to 1.3 million EU jobs could be at risk from the Middle East conflict’s energy effects, including 600,000 in automotive, 85,000 in battery projects, and 59,000 in solar manufacturing. Low-income households could spend an additional 1.4% of income on transport fuel. Euro Area inflation exceeded 3% for the first time since 2023. The Commission is urging member states to strengthen industrial policy and reduce dependencies on China and the US. Some commentary has pointed to other EU policies, such as sanctions on Russia, as potential contributors to energy market volatility.
Meanwhile, India plans to cut taxes on foreign bond holdings and lift ownership caps, Bloomberg reported. Officials are considering removing the 20% levy on bond interest, and the RBI may designate certain sovereign notes as “fully accessible.” The rupee hit a record low of 96.97 on May 20. The measures come amid reports of significant FPI outflows pressuring the currency.
Lastly, central banks added a net 17 tons of gold in April after March’s 30-ton selloff, according to the World Gold Council. Poland bought 14 tons, and China added 8 tons for an 18th straight month. Goldman noted the pace is below last year’s average, and ETF demand remains absent.
Energy
Venezuela’s crude exports reached an estimated 1.25 million barrels per day in May, up 0.7% from April and 61% from May 2025 levels. The increase marks the third consecutive monthly rise since the United States eased sanctions on PDVSA following Nicolas Maduro’s capture earlier this year. The United States remained the top buyer at roughly 558,000 bpd, followed by India at 427,000 bpd and Europe at 169,000 bpd. Traders Vitol and Trafigura handled most cargoes. India’s Reliance Industries ranked among the three largest purchasers. Some observers have noted potential drawbacks, including reportedly higher costs and lower quality of Venezuelan crude alongside geopolitical factors influencing purchases.
Health
In the US, federal prosecutors charged NIH virologist Vincent Munster and colleague Claude Kwe with smuggling biological materials and lying to authorities after 113 vials were found in their luggage. NIH activated emergency protocols and conducted an audit. NIH has stated that it promptly secured facilities, conducted audits, and identified no risk to staff or the public.
In France, biostatistician Christine Cotton died by suicide on June 2. In a public message, she described the Pfizer Covid-19 vaccine rollout as “one of the biggest manipulations that humanity has ever known” and called for withdrawal of the vaccines. Regulators have maintained that trial validity was supported by bridging studies and real-world data.
Speaking of mRNA jabs, MIT professor Retsef Levi stated that the New England Journal of Medicine selectively published Pfizer’s mRNA flu vaccine trial results, omitting data from participants aged 65 and over. The omitted data from older participants was made available on ClinicalTrials.gov, according to some observers.
In other news, a Medical University of Vienna study published in the Journal of Hazardous Materials Advances found that PET microplastic particles remained in mouse lungs for at least 14 days and triggered inflammation. Combined with ragweed pollen, inflammation increased. Lead researcher Michelle Epstein said the findings cannot be directly applied to humans.
Privacy & Surveillance
Unsealed records show federal prosecutors sought warrants for subscriber data from three YouTube channels. Magistrate Judge John Docherty rejected the warrants. Prosecutors later filed narrower requests.
Artificial Intelligence
The UK is launching Police.AI, a £115 million center to coordinate AI use across police forces in England and Wales. The system performs retrospective facial recognition matching about 25,000 times monthly. However, critics note that it is prone to false positives, citing two individuals who were wrongly arrested based on the system’s output. Officials have claimed the technology could save over six million officer hours annually.
Sources
Venezuela Oil Exports Climb to 7-Year High on Rising US, India Demand
Venezuela’s oil exports inched up from April to hit a fresh seven-year high in May as shipments to the United States and India continued to rise.
HSBC Warns of Commodity “Super-Squeeze” as Goldman Hikes Copper Forecasts
commodities face a “super-squeeze” with the Hormuz maritime chokepoint still largely shuttered in early June.
Microplastics Linger in Lungs, Fueling Allergic Inflammation in Mice
Microplastics altered allergy-related immune responses after 14 days in mouse lungs
Judge Rejects DOJ Bid for YouTube Subscriber Data
Federal prosecutors went looking for the personal details of everyone who subscribed to three YouTube channels and a judge refused to let them.
NIH Virologist Charged With Smuggling as Reckoning for Virus Hunters Begins
The virus hunters have had their chance. Now comes the reckoning.
Source | Submitted by westcoastjan
EU Risks 1.3 Million Jobs as Middle East War Drives Energy Costs Higher
“Due to the war in the Middle East, up to 1.3 million jobs are at risk, particularly in energy-intensive industries,” Mînzatu said at a press conference.
Central Banks Resume Gold Buying in April After March Selloff, but ETF Demand Lags
Central banks, a key pillar of the bullish case for gold, have returned to adding holdings in April after notable selling in March sent the price of the precious metal tumbling.
Modi Slashes Foreign Bond Taxes to Halt Rupee’s Record Slide
Reform by panic. As always, the gates open widest right when the people inside are most eager to leave.
Pfizer Whistleblower’s Suicide Note Alleges Major Covid Vaccine Trial Manipulations
This message is not intended to create sensationalism on social networks but to inform you of one of the biggest manipulations that humanity has ever known.
NEJM Under Fire for Burying Pfizer mRNA Flu Data in Seniors
It’s either gross negligence in the review process, or worse, scientific misconduct.
UK Police.AI Rolls Out Amid Costly False Arrests
The catch, and it is a fairly significant one, is that the technology keeps flagging innocent people.
In addition to sources submitted by community members, the following were also used in the creation of this report: Giovanni Staunovo, Nishita, Jatin Parikh, MJweb3_0, LimeDesert, DawoodA38015953, your_ga52162, NDTV Profit, Business Today, Malone News, WrubleB, JohnAll50690792, Age Verification Providers Association, Reclaim The Net, and National Crime Agency.
by rodster 
