U.S. Defense Bill Sets Record $901 Billion Budget, Includes Ukraine Aid 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Fed Meeting Sparks Division as Markets Brace for Possible Rate Cut 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
Oil Prices Hold Near Two-Week Highs as Markets Await Fed Rate Cut and Monitor Geopolitical Risks 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
U.S. Stocks End Week Higher as Markets Anticipate Fed Rate Cut 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Trump Meets Mexico and Canada Leaders After 2026 World Cup Draw Amid USMCA Tensions 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Japan’s Q3 Economic Contraction Deepens as Revised Data Signals Stronger Headwinds 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
UK Job Market Shows Persistent Weakness Ahead of November Budget 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Oil Prices Rebound After Sharp Decline
Oil prices rose in Asian markets on Wednesday, recovering from the previous session's 4% drop. The decline followed reports of the Lebanese group Hezbollah seeking a ceasefire with Israel, hinting at possible de-escalation in the ongoing Middle East conflict.
U.S. Inventory Surge Limits Gains
Despite the recovery, oil prices faced pressure due to a significant build in U.S. oil inventories. The American Petroleum Institute (API) reported a 10.9 million barrels increase, far exceeding expectations of 1.95 million barrels. This raised concerns over weakening U.S. fuel demand, especially in the wake of hurricanes affecting the mid-South.
Hurricane Milton and Oil Supply Concerns
Traders also monitored Hurricane Milton, a category-5 storm expected to make landfall in Florida. While the hurricane is unlikely to impact Gulf of Mexico oil operations, any potential disruptions are being closely watched.
Middle East Conflict Remains a Key Factor
The Middle East conflict continues to influence oil prices. Reports of a potential ceasefire between Hezbollah and Israel could ease concerns over oil supply disruptions. However, tensions remain high, with the possibility of further escalations in the region.
Conclusion
Oil prices are reacting to a combination of U.S. inventory data, global supply concerns, and geopolitical tensions. While prices saw a slight recovery, market volatility is expected to continue in the near term.
