EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
U.S. Dollar Slips as Yen Finds Support on Intervention Signals and Geopolitical Risks Rise 
German Exports to the U.S. Decline Sharply as Tariffs Reshape Trade in 2025 
Wall Street Ends Higher as S&P 500, Nasdaq Extend Gains Ahead of Holiday Week 
UK Economy Grows 0.1% in Q3 2025 as Outlook Remains Fragile 
Russia Stocks End Flat as Energy Shares Support MOEX Index 
EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls 
Gold Prices Surge to Record Highs as Geopolitical Tensions Fuel Safe-Haven Demand 
Silver Prices Hit Record High as Geopolitical Tensions Fuel Safe-Haven Demand 
Asian Stocks Rise as Wall Street Tech Rally Lifts Markets, Yen Slumps Despite BOJ Rate Hike 
Oil Prices Ease in Asia as Geopolitical Risks Clash With Weak Demand Outlook 
Platinum Price Surges Past $2,000 as Demand and Supply Dynamics Tighten 
Japan Signals Possible Yen Intervention as Currency Weakens Despite BOJ Rate Hike 
China Keeps Benchmark Lending Rates Steady as Economic Outlook Remains Cautious 
China’s Power Market Revamp Fuels Global Boom in Energy Storage Batteries 
RBA Signals Possible Interest Rate Hike in 2026 as Inflation Pressures Persist 
Why U.S. Coffee Prices Are Staying High Despite Trump’s Tariff Rollbacks 
Brent crude futures for November delivery climbed $1.12, or 1.56%, to $93.10 per barrel by 0611 GMT. The contract expires Monday, with December futures advancing $1.04, or 1.45%, to $92.58. U.S. West Texas Intermediate (WTI) crude futures rose 93 cents, or 1.36%, to $89.11 per barrel.
Despite Monday’s gains, Brent and WTI fell by around 3% and 5%, respectively, last week on concerns over Chinese demand, even with fiscal stimulus measures in the world's second-largest economy and top oil importer.
Escalating Middle East Conflict Fuels Oil Prices
Monday’s price surge was driven by fears that a broader Middle East conflict could involve Iran, a major oil producer and OPEC member. Israel has stepped up attacks on Iranian-backed Hezbollah and Houthi militants, stoking concerns of potential supply disruptions. Priyanka Sachdeva, senior market analyst at Phillip Nova, noted that investors are closely monitoring the risk of a region-wide conflict affecting key oil-producing areas.
Hamas reported that an Israeli strike killed its leader in Lebanon, while another Palestinian militant group announced the deaths of three leaders in a Beirut strike. Israel launched airstrikes against Houthi militia targets in Yemen and Hezbollah positions in Lebanon on Sunday.
OPEC+ Cuts and China's Demand in Focus
According to Tony Sycamore, market analyst at IG, oil prices are likely to be influenced by supply-demand dynamics, particularly as OPEC+'s voluntary supply cuts are set to end on December 1. WTI may test its 2021 lows in the $61-$62 range. Despite China’s recent economic stimulus, uncertainties persist regarding fuel demand due to ongoing electrification and decarbonization efforts in the transportation sector.
China’s manufacturing sector contracted for a fifth straight month in September, with the services sector also slowing sharply. Markets are anticipating Federal Reserve Chair Jerome Powell's speech later Monday, which could provide insight into the central bank's approach to monetary easing. "The response of demand to easing rates and the revival of Chinese demand following recent stimulus will shape future oil market dynamics," Sachdeva added.
