Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
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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.
