Oil Prices Bounce Back as Middle East Concerns and U.S. Elections Loom
Oil prices saw an uptick in early Asian trade on Tuesday after significant losses on Monday due to eased concerns over an escalating Middle East conflict. Brent crude futures for December gained 0.7% to reach $71.94 per barrel, while West Texas Intermediate crude futures similarly rose 0.7%, hitting $67.87 per barrel at 00:17 GMT.
The recent downturn followed an Israeli strike over the weekend, which notably avoided Iranian oil and nuclear assets. This limited fear of a severe escalation in regional conflict and led traders to reduce the previously high-risk premium in oil prices.
Middle East Tensions and Retaliation Threats
Despite Monday's market reaction, tension in the Middle East remains high. After Israel’s retaliatory strike in response to Iran’s October attack, Tehran threatened potential retaliation, keeping supply risk alive. Israel has signaled no intent to ease military actions against groups like Hamas and Hezbollah, reducing prospects for a truce.
Upcoming U.S. Election and Economic Data Impact
Market sentiment remains volatile ahead of the upcoming U.S. presidential election, with traders closely monitoring the race between Donald Trump and Kamala Harris. A potential Trump victory is expected to lead to inflationary policies, which could impact global oil markets.
Adding to the uncertainty, upcoming economic indicators from China and the U.S. – including the Purchasing Managers Index (PMI), U.S. GDP, and the PCE Price Index – will provide further insight into oil demand trends.


RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility
Thailand Inflation Remains Negative for 10th Straight Month in January
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 



