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The main Brent crude oil futures contract fell by 4.02% intraday, trading at $95.71 per barrel.

Golden Ten Data reported on May 27 that rising geopolitical tensions between the US and Iran have led to reduced market risk appetite. The increase in oil prices has reignited concerns over inflation and strengthened market expectations for another Fed rate hike later this year, while multiple factors have dragged silver prices down.On one hand, US economic data remains resilient. The most recent Chicago Fed National Activity Index for April stood at 0.14, significantly better than the previous value of -0.15. Although the US Conference Board Consumer Confidence Index and Present Situation Index for May both retreated from their previous readings, the Confidence Index still outperformed market expectations. Coupled with renewed twists in the US-Iran situation driving oil prices higher, concerns over inflation have increased, reinforcing market expectations for a Fed rate hike by year-end.On the other hand, spot silver’s drivers remain weak, with London market silver lease rates continuing to run at low levels. In the short term, silver remains volatile and overall market interest remains subdued. Attention should be paid to progress in US-Iran negotiations and the resumption of shipping operations in the strait. Successful negotiations between the US and Iran could spur a short-term rebound in silver prices, but interest rate expectations continue to weigh on the trend. If geopolitical tensions escalate again and push oil prices higher, there is a need to be alert to further medium-term pressure on industrial silver demand elasticity and the potential for supply disruptions. In the long term, the weakening US dollar credit, along with safe-haven and investment demand, provide solid support for silver prices.

According to BlockBeats on May 27, as reported by crypto journalist Eleanor Terrett, in the Democratic primary runoff for Texas' 18th Congressional District, newcomer Menefee successfully defeated 20-year incumbent Al Green. The crypto industry super PAC Fairshake and its affiliates contributed a total of about 10.5 million USD, with 6.5 million USD used to support Menefee and another 4 million USD to oppose Green. Green, who voted against crypto-friendly bills such as the GENIUS Act and the CLARITY Act, received an "F" rating from crypto advocacy group Stand With Crypto, making him the first incumbent Democrat to lose this election cycle due to an anti-crypto stance. In a post-election statement, Fairshake stated: "Representative Green's defeat proves that anti-crypto hostility brings real electoral consequences. Fairshake was the key variable in this race, and we will continue to strongly support leaders like Representative Menefee across the country."