P.M. Edition for June 12. Shares of SpaceX <a href="https://www.wsj.com/livecoverage/spacex-ipo-stock-market-06-12-2026?mod=WSJ_WNPOD">closed up 19%</a> on their first trading day, giving the company a market cap of more than $2 trillion and making Elon Musk the world’s first trillionaire. Plus, China has been <a href="https://www.wsj.com/business/energy-oil/china-is-propping-up-the-world-economy-by-importing-a-lot-less-oil-f12d7813?mod=WSJ_WNPOD">importing a lot less oil</a> since the start of the Iran conflict, helping keep a lid on global oil prices–without disrupting its economy. WSJ energy markets reporter <a href="https://www.wsj.com/news/author/rebecca-feng?mod=WSJ_WNPOD">Rebecca Feng</a> discusses how China’s doing that, and what happens if the country reverses course. And Iran, the U.S. and mediators agree that <a href="https://www.wsj.com/world/middle-east/trumps-iran-deal-still-has-to-get-past-the-revolutionary-guard-c13ea381?mod=WSJ_WNPOD">a peace deal is close</a> at hand. We hear from Journal Middle East correspondent <a href="https://www.wsj.com/news/author/benoit-faucon?mod=WSJ_WNPOD">Benoit Faucon</a> about what points might still be up for debate. Alex Ossola hosts.

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