South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Oil prices edged higher in Asian trading on Friday after the U.S. imposed fresh sanctions on Iranian oil, but both Brent and WTI crude were set for weekly losses amid supply concerns.
Brent crude futures for May delivery rose 0.4% to $70.16 per barrel, while West Texas Intermediate (WTI) gained 0.5% to $66.58 per barrel. Despite these gains, both benchmarks were on track for a 0.3% weekly decline following a more than 1% drop in the previous session, driven by trade tensions and oversupply worries.
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions targeting Iran’s Oil Minister Mohsen Paknejad and entities linked to Iran’s “shadow fleet,” which allegedly uses deceptive tactics to evade existing oil sanctions. The move is part of Washington’s ongoing effort to curb Tehran’s oil revenues and limit its regional influence.
Oil prices also found support from softer-than-expected U.S. inflation data for February, raising hopes that the Federal Reserve may pause interest rate hikes.
Meanwhile, traders are weighing the impact of Russia-Ukraine ceasefire negotiations, which could boost global oil supplies if successful. The International Energy Agency (IEA) forecasts an oversupplied market by 2025, citing weakening demand growth amid escalating trade tensions.
Adding to supply pressures, OPEC+ plans to gradually roll back voluntary production cuts from April 2025. In February, the alliance's oil production rose by 363,000 barrels per day to 41.01 million bpd.
While geopolitical risks support oil prices, concerns over excess supply and slowing demand continue to pressure the market.
