Key Takeaways:
Trump warned Iran on June 11 as bitcoin traders watched oil and inflation risk.BLS said PPI hit 6.5%, raising pressure on crypto, exchange-traded funds (ETFs), and rate-cut bets.Brent held near $92, but Kharg Island keeps the next oil shock in play.The U.S. Bureau of Labor Statistics (BLS) said the Producer Price Index for final demand rose 1.1% in May, matching April’s revised pace and pushing the 12-month gain to 6.5%, the largest annual increase since November 2022.
The pressure was led by goods, not services. Final demand goods climbed 2.8%, the biggest monthly increase since the series began in December 2009, while final demand energy rose 10.7% and gasoline jumped 23.4%.
Trump Raises the Oil-Risk FloorKharg Island matters because it handles about 90% of Iran’s crude exports and has been central to market anxiety over supply disruption in the Persian Gulf. Any actual move against the terminal would raise military, diplomatic, and energy-market stakes.
Oil markets, however, did not treat the statement as an immediate supply shock. Brent traded near $92 a barrel Thursday morning, down on the day and well below May peaks, while WTI hovered near $90.
Markets Flash a Mixed SignalU.S. stocks were higher in early trading, helped by chip and AI-related shares after recent weakness. The Nasdaq Composite, S&P 500, and Dow Jones Industrial Average all posted modest gains, but the tape was hardly clean with Iran headlines and PPI sitting over the session.
