Your Evening Briefing

(Bloomberg) -- Mark your calendars. President Donald Trump will meet Kim Jong Un on June 12 in Singapore for a historic summit. In other news, sky-high oil prices couldn't come at a worse time for natural gas producers in the U.S. 

Here are today's top stories

Trump's Iran decision could be a disaster for natural gas drillers in America's Permian Basin. High oil prices could boost output, exacerbating the existing glut.

Oil prices could hit $100 a barrel next year, Bank of America says. It's the first Wall Street bank to suggest crude could break the triple-digit mark.  

For the advertising industry, ad blocking is an existential threat. For the small community dedicated to blocking ads, it's a sport.

SpaceX plans to debut a new rocket this evening. The Falcon 9 Block 5 is designed to be capable of 10 or more flights with limited refurbishment

The highest-paid executive at a public U.S. company is just 27 years old. Snap co-founder Evan Spiegel got paid more than $500 million last year, the Bloomberg Pay Index shows. 

With pot business booming, Denver is loosening its purse strings. Finally comfortable spending the cash legal marijuana brings in, the city plans to use some to build affordable housing. 

What's Joe Weisenthal thinking? The Bloomberg Markets executive editor was in San Francisco recently, where the topic of curing cancer merited a mere two-minute break in a seemingly never-ending conversation about cryptocurrencies. The hype is just that strong.

What you'll need to know tomorrow

What you'll want to read tonight

Tim Draper is a venture capitalist with a big idea: dividing California into three smaller states run by more efficient and less bureaucratic governments. There are at least five reasons why his idea is doomed from the start, but hey, let's hear the guy out.

 

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