ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Oil prices held steady early Friday following a sharp rally in the previous session, fueled by easing U.S.-China trade tensions and a new trade agreement between the U.S. and the UK. Brent crude inched up 7 cents to $62.91 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 7 cents to trade at $59.98 as of 0121 GMT. This comes after Brent rose 2.8% and WTI jumped 3.2% on Thursday.
Investor sentiment improved as U.S. Treasury Secretary Scott Bessent prepares to meet China’s Vice Premier He Lifeng in Switzerland on May 10, aiming to resolve trade disputes that have threatened global crude oil demand. Simultaneously, U.S. President Donald Trump and British Prime Minister Keir Starmer announced a breakthrough trade deal, with the UK slashing tariffs on U.S. goods to 1.8% from 5.1%. The U.S., in turn, lowered duties on British car imports but retained a 10% tariff on most other goods.
Meanwhile, oil supply dynamics remain in focus. OPEC+ is expected to gradually boost output, though a Reuters survey shows April production dipped due to declines in Libya, Venezuela, and Iraq. These cuts offset scheduled increases, potentially limiting the downward pressure on prices.
Additionally, stricter U.S. sanctions on Iran could tighten global supply. Recent penalties against two Chinese refiners for purchasing Iranian crude have disrupted their operations, forcing them to offload oil under alternative labels, sources told Reuters.
While geopolitical developments support prices, rising supply from OPEC+ could cap gains in the near term. Traders are closely watching upcoming trade talks and sanctions enforcement for further market direction.
