SEB
June 2, 2026
It Will All Work Out Well But Iran Cuts Off Contact With the US
Daily UpdateCommoditiesEquitiesFXInformation TechnologyEnergy
Geopolitical tensions in the Middle East have pushed Brent oil to $94 and strengthened the dollar, while Nvidia and Microsoft partner to disrupt the PC processor market. Despite these pressures, Swedish industry remains resilient and Eurozone inflation is temporarily offset by tax cuts.
Key Takeaways
- 1.Geopolitical tensions escalated as Iran suspended contact with the US and threatened to blockade the Strait of Hormuz, driving oil prices to $94/bbl.
- 2.Nvidia and Microsoft announced a partnership to manufacture PC main processors using AI chips, challenging incumbents like Intel and Apple.
- 3.Euro area inflation is being mitigated by tax cuts and lower fuel prices despite high energy costs; an ECB rate hike next week is highly anticipated.
Table of Contents
- Global key stories
- Nordic key stories
- Today's key events
- Market data
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Authors
Amanda Sundström
Securities
NVDAMSFT.OAnthropicBrent Crude OilINTC
Themes
Geopolitical Risk and Energy SecurityAI-Driven Technological ShiftCentral Bank Policy and Inflation Divergence
Regions
North AmericaMiddle EastEuropeUnited StatesIranSweden