RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Oil prices extended their rally for a fourth consecutive session on Thursday amid rising fears of global supply shortages and escalating geopolitical tensions. Investors reacted to U.S. President Donald Trump’s push for a rapid resolution to the war in Ukraine and threats of heavy tariffs on nations purchasing Russian crude.
Brent crude futures for September delivery, expiring Thursday, rose 0.4% to $73.51 per barrel by 0028 GMT. The more active October Brent contract gained 0.4% to $72.76. U.S. West Texas Intermediate (WTI) September crude rose 0.5% to $70.37. Both benchmarks closed 1% higher in the previous session.
Market sentiment was bolstered by Trump’s comments that secondary tariffs of up to 100% could be imposed on countries importing Russian oil unless Moscow shows progress toward ending the conflict within 10–12 days. The administration also warned China, the top buyer of Russian crude, of potential sanctions and confirmed a 25% tariff on U.S. imports from India starting Friday.
Meanwhile, the U.S. Treasury introduced new sanctions targeting over 115 Iran-linked individuals, firms, and vessels, intensifying its “maximum pressure” campaign following strikes on Tehran’s nuclear sites in June. China, also a major buyer of Iranian oil, is directly affected by the measures.
Despite supply concerns, U.S. crude inventories surged by 7.7 million barrels to 426.7 million last week, according to Energy Information Administration data, far exceeding expectations of a 1.3 million-barrel draw. Gasoline stocks, however, dropped by 2.7 million barrels, signaling robust summer driving demand. Analysts suggest the inventory build was offset by stronger gasoline consumption, leaving overall market sentiment neutral.
Global oil markets remain volatile as geopolitical tensions and tariff threats continue to influence pricing trends.
