India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Oil prices rose 1.5% in Asian trading on Wednesday, driven by escalating geopolitical tensions and surprising U.S. inventory data. Brent crude futures for July climbed to $66.42 per barrel, while West Texas Intermediate (WTI) rose to $62.92.
The spike followed a CNN report citing U.S. intelligence that Israel is preparing for a potential military strike on Iranian nuclear facilities. Although Israeli leadership has not finalized a decision, officials say the probability of such action has “significantly increased” in recent months. The potential conflict, unfolding as the U.S. continues nuclear negotiations with Tehran, raises fears of major supply disruptions across the Middle East.
According to ING analysts, “The report signals heightened geopolitical risk, with potential threats not only to Iranian supply but broader regional output.”
The report also highlighted Iran’s refusal to negotiate on its uranium enrichment program, a key sticking point in U.S.-Iran talks. This intransigence, combined with legacy tensions from the Trump-era nuclear deal, has added fuel to concerns that diplomacy may fail.
Adding further pressure to oil prices, the American Petroleum Institute (API) reported an unexpected 2.5 million-barrel increase in U.S. crude inventories for the week ending May 16, compared to expectations of a 1.9 million-barrel draw. Gasoline inventories fell by 3.2 million barrels, while distillates, including diesel and heating oil, declined by 1.4 million barrels.
ING noted that inventory data suggests a tightening market for middle distillates. Traders now await official data from the U.S. Energy Information Administration (EIA) for confirmation.
With heightened geopolitical tensions and surprising inventory trends, energy markets remain on edge, pricing in a growing risk premium.
