Saudi Arabia pledged to increase the crude supply

News of the day, Thursday, June 2

The USD hit a three-week high against the yen today, supported by advances in U.S. Treasury yields which have been holding near a two-week peak recently. The dollar index edged 102.25.

OPEC+ sources say Russian oil output has decreased by around 1 million barrels per day after Western sanctions on Moscow started.

Oil prices fell today as Saudi Arabia may increase oil production soon. Brent crude was down 1.8%, and WTI crude slid 1.9%.

Major stock indexes closed lower yesterday on rising concerns about soon aggressive rate hikes by the Fed. The Dow Jones Industrial Average fell 0.54%, S&P 500 lost 0.75%, and Nasdaq Composite dropped 0.72%.

The price of Brent crude is $113.70, WTI — $112.70, GBP/USD — 1.2533, EUR/USD — 1.0689, and gold costs $1852.00 per ounce.