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• BP sells stake in Canadian oil sands to push into offshore projects
  BP has quit the Canadian oil sands after selling its sole producing stake in the region...
  BP has quit the Canadian oil sands after selling its sole producing stake in the region to Calgary-based Cenovus Energy in a deal valued at roughly $1bn.
  
  The deal to withdraw from an area long targeted by environmental campaigners illustrates the fine line BP is trying to tread as chief executive Bernard Looney attempts to balance the company’s fossil fuel investments with a push to reduce emissions.
  
  For its 50 percent non-operated stake in the Sunrise oil sands project, BP will receive C$600mn ($466mn US) with up to a further C$600mn in payments over the next two years.
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• Under US Sanctions, Iran and Venezuela Sign 20-year Cooperation Plan
  Iran and Venezuela, oil producers grappling with crippling U.S. sanctions, signed a...
  Iran and Venezuela, oil producers grappling with crippling U.S. sanctions, signed a 20-year cooperation plan in Tehran on June 11, with the Islamic Republic’s supreme leader saying the allies would continue to resist pressure from Washington.
  
  The signing ceremony, carried by Iranian state TV, was overseen by Iranian President Ebrahim Raisi and his Venezuelan counterpart Nicolas Maduro and took place at the Saadabad Palace in north Tehran.
  
  The plan includes cooperation in the fields of oil, petrochemicals, defense, agriculture, tourism, and culture.
  
  It also includes the repair of Venezuelan refineries and the export of technical and engineering services.
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• Crypto Crash for Monday
  Bitcoin fell below $24,000 Monday after fresh inflation concerns had investors fearing...
  Bitcoin fell below $24,000 Monday after fresh inflation concerns had investors fearing that the Federal Reserve could act more aggressively to control soaring prices.
  
  Bitcoin's fall was part of a wider crypto market selloff. In the last 24 hours, Ethereum has also cratered almost 18% to $1,205, according to CoinDesk data.
  
  But it is not just rising inflation spooking crypto investors. One of the largest crypto lenders, Celsius Network, announced Sunday it was pausing all customer withdrawals.
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• MarketWatch: U.S. stock futures sink Sunday after Wall Street’s worst week since January
  U.S. stock-index futures sank Sunday after Wall Street’s worst week since January. Dow Jones Industrial...
  U.S. stock-index futures sank Sunday after Wall Street’s worst week since January.
  
  Dow Jones Industrial Average futures YM00, -0.95% fell more than 300 points, or 1%, late Sunday, while S&P 500 futures ES00, -1.30% and Nasdaq-100 futures NQ00, -1.81% posted even steeper declines.
  

  
  
  Prices of bitcoin and other cryptocurrencies also slid over the weekend, with bitcoin BTCUSD, -6.68% falling below the $27,000 level, about 60% off its all-time high reached last November. Crude prices CL.1, -1.43% dipped Sunday as well.
  
  
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• What else is brewing?
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  • At least 20 million people watched the first televised hearing held by the House committee investigating the Capitol attack Thursday night—about on par with a major Sunday Night Football game.
  
  
  • Tesla filed for a 3:1 stock split.
  
  
  • US luxury home sales plunged in the three months through April for their largest drop since the pandemic began.
  
  
  • Microsoft’s Xbox TV app will go live later this month, which will allow 2022 Samsung smart TV and monitor owners to play games without a console.
  
  

  
  
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