Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Monday, May 20th. I'm Julie Morgan. The loss of a president and the illness of a king has oil

on watch today. China says three US defense companies are unreliable entities, and Uber and Lyft drivers in Minnesota are getting a raise.

Oil prices are on watch after the death of Iran's president and a helicopter crash has been confirmed.

Iranian President Ibrahim Riesi, the foreign minister, and other government officials,

were found dead early on Monday after their helicopter crashed near the border of Iser by Jean.

The cause of the crash is unknown and the Vice President will serve as acting President.

Riesi took office in 2021 in his tenure Iran's nuclear program accelerated and ties with Russia and China strengthened.

In other news out of the Middle East, Saudi Arabian Crown Prince Mohammed

postponed a four-day visit to Japan as King Salman is being treated for a lung

infection. The trip was scheduled to start on Monday.

Oil futures are marginally lower with Front Month Nymex crewed for June delivery, down 0.3%

to $79.83 cents a barrel.

And front month July Brent crew down 0.1 percent to $83.91 cents a barrel.

A strategist at ING noted that developments in Iran and Saudi Arabia have so far had a contained market impact.

China has imposed sanctions on three US defense companies over arms sales to Taiwan on the same day

as the island's presidential inauguration.

Boeing's Defense Space and Security Unit, General Dynamics, Land Systems, and General Atomic

Aeronautical Systems have all been sanctioned.

China's Ministry of Commerce said on Monday that it added the three companies to its list of

unreliable entities barring them from China-related import or export activities and

for making new investments in the country.

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