China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Gold Prices Drop as Fed Rate Outlook and Iran Tensions Weigh on Market 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Trump Suspends Some Morocco Fertilizer Tariffs to Ease U.S. Supply Shortage 
Argentina Economy Shrinks 1.5% in April, Recovery Under Milei Loses Momentum 
Oil Prices Slip as U.S.-Iran Peace Talks and Strait of Hormuz Risks Keep Markets on Edge 
China Manufacturing PMI Edges Higher in June as Exports and AI Investment Boost Growth 
Gold Price Hits Annual Low as Fed Rate Hike Bets and Sticky Inflation Weigh on Bullion 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Yen Falls to 40-Year Low as Markets Watch Japan Intervention and U.S. Jobs Report 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Trump Questions Housing Bill as He Prioritizes SAVE America Act 
RBA Minutes Signal Australia Central Bank Remains Ready to Raise Interest Rates if Inflation Persists 
Oil prices climbed sharply during early Asian trading on Friday, recovering some of the heavy losses recorded earlier this week as investors closely monitored developments surrounding the ongoing U.S.-Iran negotiations. Despite optimism over diplomatic progress, uncertainty surrounding Iran’s nuclear program and tensions in the Strait of Hormuz continued to support crude prices.
West Texas Intermediate (WTI) crude futures for July delivery surged 1.6% to $94.34 per barrel during the session. However, oil prices were still down more than 6% for the week after earlier comments from U.S. President Donald Trump suggested progress in talks with Iran and a delay in potential military action.
Market sentiment remained volatile as both Washington and Tehran maintained conflicting positions on critical issues. President Trump reiterated that Iran must not be allowed to possess nuclear weapons and emphasized the importance of securing Tehran’s uranium stockpile. Meanwhile, U.S. Secretary of State Marco Rubio criticized Iran’s reported plans to introduce transit tolls in the Strait of Hormuz, warning that such actions could complicate diplomatic efforts.
Although officials acknowledged some advancement in negotiations, traders remained cautious due to ongoing geopolitical risks in the Middle East. Oil supply concerns persisted because shipping activity through the Strait of Hormuz remained limited. The strategic waterway is a vital global energy route, and any disruption could significantly impact worldwide crude oil supplies.
Reports also indicated that Iran may implement additional measures to regulate or charge vessels passing through Hormuz, further heightening market concerns. At the same time, President Trump warned that military strikes against Iran remained possible if diplomatic talks failed to produce meaningful results.
The combination of geopolitical uncertainty, supply disruption fears, and ongoing U.S.-Iran negotiations continues to drive volatility in global oil markets, keeping investors focused on future developments that could shape crude oil prices in the coming weeks.
