Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Oil prices extended gains in early Asian trading Wednesday following fresh U.S. sanctions on Iran and a larger-than-expected drop in U.S. crude inventories. Market sentiment was also lifted after President Donald Trump softened his stance on Federal Reserve Chair Jerome Powell and voiced optimism on trade relations with China.
Brent crude futures for June rose 1% to $68.12 per barrel, while West Texas Intermediate (WTI) crude climbed 1% to $63.58, building on Tuesday’s nearly 2% jump for both benchmarks.
The U.S. Treasury announced sanctions targeting Seyed Asadoollah Emamjomeh, a key figure in Iran’s liquefied petroleum gas (LPG) industry, and his affiliated companies. Officials accused him of exporting LPG, including from the U.S., to bypass sanctions and finance Iran’s activities in the Middle East. The move underscores Washington’s strategy to curb Tehran’s energy income amid ongoing nuclear negotiations. The next round of expert-level talks is set for Saturday in Oman.
Meanwhile, Trump scaled back his rhetoric against Fed Chair Powell, moving away from calls for dismissal and instead expressing confidence in the central bank. He also suggested trade discussions with China could result in reduced tariffs, though “not to zero,” signaling a less confrontational stance.
In addition, the American Petroleum Institute (API) reported a sharp 4.565 million-barrel draw in U.S. crude stockpiles for the week ending April 18, reversing the prior week’s 2.4 million-barrel build. The unexpected decline hints at tightening supply, possibly from increased refinery output or rising exports. Investors await confirmation from the Energy Information Administration (EIA) later today.
These developments collectively point to bullish momentum in the oil market, driven by geopolitical risks, shifting U.S. monetary policy tone, and improving trade sentiment.
