US Iran
A senior Cheong Wa Dae official said the government may consider another supplementary budget in the second half if the Middle East crisis persists. Hong Ik-pyo, presidential secretary for political affairs, denied opposition claims that the pending 26.2 trillion-won extra budget seeks political leverage before June 3 local elections. He cited downgraded growth forecasts and rising fuel prices.
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Oil prices rose on Monday after U.S. President Donald Trump and Iran threatened to attack energy facilities in the Middle East. Brent crude futures climbed to $113.20 a barrel, while U.S. West Texas Intermediate reached $98.85.