Bloomberg Breaking

Bank of America’s commodities and derivatives research chief said his best-case oil-price scenario is Brent averaging $90 for the rest of the year, and the market may go even higher if the stalemate with Iran persists or heats up with fresh fighting.

US natural gas futures rose as forecasts shifted to show hotter weather in the coming weeks, signaling increased cooling demand for power-plant fuel as homes and businesses crank up air-conditioners. Intraday prices for the front-month contract reached more than $3 per million British thermal units for the first time since late March.

Ryanair Holdings Plc Chief Executive Officer Michael O’Leary said there will be corporate “casualties” among European airlines if the Iran war continues and the Strait of Hormuz remains restricted.

Ryanair CEO Michael O’Leary discusses the ‘incredibly high” costs of air travel in the US, the availability of jet fuel in Europe, and the potential for casualties among European airlines from higher oil prices. (Source: Bloomberg)

Citigroup Inc. and BlackRock Inc.’s private credit unit HPS Investment Partners have struck an agreement to collaborate on direct-lending deals across Europe, targeting as much as €15 billion ($17.5 billion) of financings over the next five years.

Bitcoin Depot Inc., once the largest operator of crypto ATMs in North America, filed for bankruptcy on Monday, marking the latest major blow for a niche segment of the digital asset industry that has been in decline for several years.

Belarus announced that its armed forces would conduct snap nuclear exercises alongside Russian allies, following warnings from Kyiv that it could retaliate if Minsk becomes more deeply involved in the Kremlin’s war.

India’s state-run banks have been directed by the government to use video conferencing facilities for meetings and limit overseas travel to reduce fuel usage and preserve foreign exchange reserves.

Merck & Co. has kicked off an investment-grade bond sale to help finance its $6.7 billion acquisition of Terns Pharmaceuticals Inc.

Chile’s economy contracted in the first quarter even as market-friendly proposals from the nation’s new President Jose Antonio Kast stoked investor optimism.

Francisco Blanch, head of commodities and derivatives research at Bank of America Securities, discusses the “pretty large” deficit in the global oil market and says the US will see higher gas prices and potential “availability issues” during the summer driving season. (Source: Bloomberg)

Poland has delayed the phase out of the Wibor interbank benchmark for existing loan agreements until end 2036 following criticism for the plan from commercial lenders wary of a switch to a new index.

News Now: - Trump Warns Iran: Time Running Out - US, China Reach Agricultural Trade Deal - Rail Strike Disrupts NYC Commute - Rai End England's PGA Drought (Source: Bloomberg)

US futures swung to slight gains in Monday pre-market trading, erasing overnight losses as oil prices retreated from an earlier surge, and as top semiconductor stocks including Micron Technology Inc. and Nvidia Corp. advanced. Sentiment remained muted, though, with inflation remaining a key concern.

Wall Street strategists are warning the honeymoon period for stocks following a blockbuster earnings season is over and that a harsh macro-economic reality now threatens this year’s rally.

Government subsidies have pushed Chile’s average mortgage rate below 4% for the first time in more than four years, boosting sales of cheaper homes, while failing to trigger a broader revival in the construction industry.

India is tightening its grip on foreign outflows as the Iran war fuels an energy shock. Fuel prices are up, gold and silver imports face tougher curbs, as the rupee has hit a record low against the dollar. (Source: Bloomberg)

Czech central bank Governor Ales Michl said policymakers are ready to raise interest rates if global and domestic risks threaten to boost underlying inflation pressures.

S&P 500 Index futures fall 0.4% as of 7:37 a.m. in New York. Investors are watching bond markets to see if Friday’s surge in yields to multi-year highs would extend.

NextEra Energy Inc. agreed to pay about $67 billion in stock for Dominion Energy Inc. in the biggest power acquisition ever, creating a giant utility extending from Florida to the data centers clustered in Virginia.