Japan Bond Yields Top 3% as Inflation, Fiscal Risks Rise 
China Services PMI Beats Forecasts as Domestic Demand Improves 
South Korea Unveils Record $597 Billion 2027 Budget to Boost AI and Chips 
Dollar Hits Two-Week High as Iran Conflict Lifts Oil and Bond Yields 
Australia Trade Surplus Beats Forecasts in July as Exports Fall 
German Retail Sales Drop 3.4% in July 
Gold Prices Hold Near $4,400 as Fed Rate Hike Bets Ease 
Asian Currencies Rise as Yen Surges on BOJ Rate Hike Bets 
Asian Stocks Tumble as Oil Surge Fuels Rate Hike Fears 
India Services PMI Rises to 54.1 as Hiring Accelerates 
FTSE 100 Falls as US-Iran Conflict Drives Oil Prices Higher 
Australia GDP Beats Forecast, Boosting RBA Rate Hike Bets 
Asian Currencies Weaken as Dollar Rises, Kiwi Slides After RBNZ Hike 
US Tech Giants’ AI Bond Boom Raises Euro Zone Borrowing Risks 
Oil Prices Rise as US-Iran Conflict Threatens Middle East Supply 
Bank of England Sees Surge in Higher-Risk Collateral 
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Oil prices moved lower during Asian trading on Thursday, snapping three straight sessions of gains as concerns over Middle East supply disruptions eased following comments from U.S. President Donald Trump and signs of improving crude flows through the Strait of Hormuz.
Brent crude futures for November delivery fell 0.4% to $95.25 a barrel as of 20:49 ET (00:49 GMT), while West Texas Intermediate (WTI) crude futures declined 0.2% to $90.80 a barrel. Both benchmarks had gained nearly 1% on Wednesday and reached five-week highs.
Recent oil price gains were fueled by fears that renewed military clashes between the United States and Iran could further disrupt Middle East energy supplies. U.S. forces struck Iran's southern coast, while Tehran retaliated against American positions across the region in the most intense exchange between the two countries since July.
However, Trump said Wednesday that the latest U.S. military campaign against Iran would not continue for an extended period. He added that U.S. strikes targeted Iranian radar and missile systems as well as capabilities associated with laying mines near the Strait of Hormuz.
The crucial waterway remains a major focus for global oil markets. U.S. Energy Secretary Chris Wright said 17 million barrels of crude passed through the Strait on Monday, marking the highest volume since the conflict sharply disrupted energy flows.
Shipping activity nevertheless remains unstable. Preliminary Kpler data showed only four commodity vessels crossed the Strait on Tuesday, well below the 10-day average of roughly 13 vessels.
Meanwhile, U.S. oil inventory data provided some support for crude prices. Commercial crude inventories dropped by 4.5 million barrels last week, marking their first decline in five weeks and contrasting with expectations for a modest increase.
Gasoline inventories decreased by 1.2 million barrels, while distillate stocks, including diesel and heating oil, increased by around 800,000 barrels.
Investors are also watching Sunday's OPEC+ meeting. The producer alliance is expected to maintain its October output policy after completing the planned unwinding of 1.65 million barrels per day of production cuts. OPEC+ previously increased its September output quotas by 188,000 barrels per day.
