US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Oil Prices Hold Steady Amid U.S. SPR Purchases and Demand Uncertainty
Brent crude futures saw a modest rise of $0.03 to $71.45 per barrel early Tuesday, while U.S. West Texas Intermediate (WTI) increased by $0.07 to $67.45 per barrel. This stability follows a steep 6% decline on Monday after Israel's weekend strikes against military targets in Iran, which spared Iranian oil infrastructure, calming fears of an extended conflict.
Middle East Tensions and U.S. Response
Middle Eastern tensions remain high, with Iran pledging to respond to Israel's recent attacks. The U.S. has warned Iran of “severe consequences” should it escalate aggression in the region, yet analysts see limited near-term risk to oil supply. ING Economics noted that while geopolitical concerns are significant, bearish market fundamentals may dominate through 2025.
U.S. Strategic Petroleum Reserve (SPR) Plan
The U.S. government announced plans to purchase up to 3 million barrels of crude for the SPR by May 2025, injecting some stability into the market. However, limited funding means further buys are dependent on future congressional approval. Meanwhile, China's sluggish demand growth and delayed peak winter heating season in the Northern Hemisphere could weigh on global oil prices.
U.S. Inventory Update
A preliminary Reuters poll indicated a likely rise in U.S. crude and gasoline inventories last week, with distillate stocks possibly down. Industry data from the American Petroleum Institute is expected Tuesday, while the U.S. Energy Information Administration will release its report on Wednesday.
