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Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
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S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
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Australia’s Labour Market Weakens as November Employment Drops Sharply 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Oil prices remained largely unchanged early Thursday after closing at two-week lows in the previous session, weighed down by sluggish demand and an ongoing global supply glut. Brent crude futures edged up by just 2 cents, or 0.03%, to $63.54 a barrel at 0127 GMT, while U.S. West Texas Intermediate (WTI) futures held steady at $59.60 per barrel.
According to J.P. Morgan, global oil demand has risen by 850,000 barrels per day (bpd) so far this year, slightly below the bank’s earlier projection of 900,000 bpd. The firm noted that “high-frequency indicators suggest U.S. oil consumption remains subdued,” citing weak travel activity and reduced container shipping volumes as contributing factors.
In Wednesday’s session, oil prices dropped further after the U.S. Energy Information Administration (EIA) reported a larger-than-expected rise in crude inventories. U.S. crude stocks increased by 5.2 million barrels last week to 421.2 million barrels, far exceeding expectations for a modest 603,000-barrel gain. This unexpected build-up added to concerns about oversupply in the market.
Capital Economics predicted that downward pressure on oil prices will persist into the coming years. The firm expects Brent crude to average $60 per barrel by the end of 2025 and fall further to around $50 by the end of 2026.
Global oil prices declined for a third consecutive month in October, as fears of an oversupplied market continued to intensify. The Organization of the Petroleum Exporting Countries (OPEC) and its allies have been ramping up production, while non-OPEC producers also maintain robust output levels.
With weak global demand and rising inventories, analysts anticipate that oil markets will remain under pressure, keeping prices volatile in the near term.
