Doug Krisner

In New York trading today, WTI crude oil gained over 2% to settle at just under $72.

Now, Washington continues to describe Hormuz as an international waterway.

However, Tehran says it has the sovereign right to determine how ships transit the strait.

And today, Secretary of State Marco Rubio was in Bahrain seeking Gulf backing for an Iran deal, and he said, again, tolls are unacceptable.

Rubio also said the U.S.

wants to reach a deal with Iran to end the war, but it will not do so at any price.

Pakistani officials say further peace talks are set to take place next week in Switzerland.

The U.S.

Supreme Court has expanded the president's power over immigration.

Today, the high court ruled President Trump has broad authority to end legal protection for people from crisis-ridden countries.

Now, this decision opens the prospect of deportation for some 350,000 Haitians and 7,000 Syrians.

Voting 6-3, the court rejected the argument that the Trump administration engaged in unconstitutional racial discrimination by stripping Haitian and Syrian migrants of their so-called temporary protected status.

At the same time, the high court threw out a jury verdict won by a Missouri man who blamed the Roundup weed killer for his non-Hodgkin lymphoma.

It was a victory for chemical giant Bayer, which had appealed that jury verdict.

The High Court said consumers cannot sue Bayer for the absence of a cancer warning on the product's label since federal regulators concluded a cautionary statement was not necessary.

Shares in Bayer jumped 16% in trading in Germany.

U.S.

consumer spending was up last month, even as prices rose at the fastest pace in more than three years.

The core personal consumption expenditures price index was up in May at an annual rate at 3.4 percent.

Now, this measure does not include energy prices.