U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Australian Household Spending Dips in December as RBA Tightens Policy 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
UK Starting Salaries See Strongest Growth in 18 Months as Hiring Sentiment Improves 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Oil prices fell sharply during Asian trading on Wednesday as markets reacted to comments from U.S. President Donald Trump suggesting Venezuela could soon supply tens of millions of barrels of crude oil to the United States. The development fueled concerns over rising global oil supply and added pressure to already struggling crude markets.
Brent crude futures for March dropped around 1% to trade near $60.11 per barrel, while U.S. West Texas Intermediate (WTI) crude declined about 1.1% to $56.29 per barrel. The losses extended a weak trend seen earlier in the week, with oil prices on track for their worst annual performance in five years amid persistent oversupply worries.
Trump stated via social media that Venezuela would deliver between 30 and 50 million barrels of oil to Washington, with the U.S. selling the crude at market prices. According to Trump, the proceeds would be controlled by the U.S. government to benefit both Venezuela and the United States. The announcement follows the recent capture of Venezuelan President Nicolas Maduro by U.S. forces, after which Trump said Washington was assuming control of Venezuela and planned to reopen its oil industry.
Markets interpreted these moves as a signal that U.S. sanctions on Venezuela’s oil sector could be lifted, potentially releasing large volumes of crude back into global markets. While geopolitical uncertainty added some risk premium to prices, oil remained under pressure due to expectations of a supply glut, especially looking ahead to 2026.
However, analysts cautioned that Venezuela’s oil production may not rebound quickly. Years of underinvestment, aging infrastructure, political instability, and limited storage capacity could delay any meaningful increase in output. Data from maritime intelligence firm Kpler suggested near-term production gains are unlikely.
Oil traders are also closely watching developments around a possible Russia-Ukraine ceasefire. The U.S. recently joined European allies in pledging security guarantees to Kyiv and offered to assist with ceasefire monitoring. Any breakthrough could eventually ease sanctions on Russia, potentially adding more oil supply to the market and further weighing on crude prices.
