SPOT GOLD RISES 1% TO $4,761.64/OZ

US LACKS CLEAR LEAD ON LEBANON AS CEASEFIRE STRAINS Fighting between Israel and Hezbollah is putting the Iran ceasefire at risk—yet no senior Trump administration official is clearly in charge of the Lebanon file, according to an Axios reporter.

HORMUZ STILL BLOCKED AS IRAN ASSERTS CONTROL ~55% chance traffic normalizes before July 1. Flows remain far below normal (~135/day), with Iran reportedly capping transit at 15 vessels/day under the ceasefire. Tankers are waiting or turning back as access requires military clearance. “The Strait is not open,” says UAE’s Sultan Al Jaber. Reopening could take weeks or longer. https://t.co/s99fSRHwIf

HOUTHI LEADER SAYS OPERATION WILL ESCALATE, WITH POSSIBLE SURPRISE ACTIONS ALIGNED WITH DEVELOPMENTS ON THE GROUND

TRUMP BLASTS NATO ALLIES AGAIN President Trump renewed criticism of NATO, accusing European partners of failing the U.S. during the Iran conflict. In a Truth Social post, he said NATO only responds under pressure and called the alliance “very disappointing.” After meeting NATO chief Mark Rutte, Trump added that NATO “wasn’t there when we needed them, and won’t be there again.” He also revived tensions over Greenland, repeating his claim that the U.S. should take control of the Danish territory.

*OIL PRICES EXTEND GAINS, MAY WTI FUTURES RISE ABOVE $100/BBL

HORMUZ STILL BLOCKED AS IRAN ASSERTS CONTROL Ship traffic through the Strait of Hormuz remains largely frozen despite a fragile US-Iran ceasefire. Only a handful of Iran-linked vessels are moving, far below the usual ~135 daily transits. Iran is tightening control by introducing designated “safe routes” and requiring ships to coordinate with its military, citing mine risks. In practice, this has deterred most traffic—some tankers have even aborted crossings. A few Chinese tankers loaded with Saudi and Iraqi crude approached the strait but stopped short, highlighting ongoing uncertainty. Around the region, oil flows remain constrained and physical supply is tight. UAE oil chief Sultan Al Jaber said bluntly: “The Strait is not open.” While Iran claims vessels can pass, access is conditional and controlled. Shipping groups warn the situation is far from resolved. Concerns over mines and safety could delay a full reopening for weeks or months, even if traffic resumes.

ISRAELI MILITARY ISSUES EVACUATION WARNING FOR BEIRUT'S SOUTHERN SUBURBS AHEAD OF POSSIBLE ATTACK -STATEMENT

🚨 IRAN'S DEPUTY FOREIGN MINISTER SAYS IRAN WAS ON THE VERGE OF RESPONDING TO THE CEASEFIRE VIOLATION LAST NIGHT, BUT PAKISTAN INTERVENED

IRAN'S DEPUTY FOREIGN MINISTER SAYS ANY PEACE IN THE REGION MUST INCLUDE LEBANON, THE COMING HOURS ARE VERY CRITICAL - FARS

IRAN'S DEPUTY FOREIGN MINISTER SAYS U.S. MUST STOP ISRAELI ATTACKS ON LEBANON - FARS

IRAN'S DEPUTY FOREIGN MINISTER SAYS OUR DELEGATION WILL HEAD TO PEACE TALKS IN ISLAMABAD - FARS

🚨 IRAN WILL ALLOW NO MORE THAN 15 VESSELS PER DAY TO PASS THROUGH THE STRAIT OF HORMUZ UNDER THE CEASEFIRE AGREEMENT, TASS CITES A SENIOR IRANIAN SOURCE

*US JOBLESS CLAIMS 219,000 IN APRIL 4 WEEK; EST. 210K

*US FEB. CORE PCE PRICE INDEX RISES 3.0% Y/Y; EST. +3.0% *US FEB. PERSONAL SPENDING RISES 0.5% M/M; EST. +0.6% *US FEB. CORE PCE PRICE INDEX RISES 0.4% M/M; EST. +0.4%

US 4Q FINAL GDP +0.5% VS PRELIM GDP +0.7%

*PAKISTAN WORKING ON CEASEFIRE FOR LEBANON, YEMEN: REUTERS

IRAN'S DEMANDS INCLUDE THE UNFREEZING OF IRANIAN ASSETS BY THE AMERICANS WITHIN TWO WEEKS — A SENIOR IRANIAN OFFICIAL

SENIOR IRANIAN SOURCES SAY UNDER THE CEASEFIRE, IRAN WILL ALLOW NO MORE THAN 15 SHIPS PER DAY THROUGH THE STRAIT OF HORMUZ: TASS

HASSETT: IF STRAITS OPEN, THINGS CAN RETURN TO NORMAL VERY SOON