Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Oil prices extended their gains during Asian trading on Thursday as geopolitical tensions involving Venezuela and Russia heightened concerns over global crude supply. Market sentiment was boosted after U.S. President Donald Trump ordered a blockade of sanctioned oil tankers entering and leaving Venezuela, a move that escalated pressure on the South American nation and raised fears of further export disruptions.
As of late Asian hours, Brent crude futures for February delivery rose 0.7% to around $60.08 per barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 0.8% to approximately $56.39 per barrel. The rise in oil prices reflects growing uncertainty surrounding supply from key oil-producing nations amid tightening sanctions and potential enforcement actions.
The U.S. blockade targets tankers carrying Venezuelan oil that are already under American sanctions, signaling a tougher stance against President Nicolas Maduro’s government. Venezuela, a member of OPEC, has seen its crude exports sharply constrained over the years due to longstanding U.S. sanctions. Analysts warn that stricter enforcement of the blockade could further limit Venezuelan oil shipments, tightening global supply conditions.
Market optimism was further supported by reports that Washington is considering harsher measures against Russia’s energy sector if diplomatic efforts to end the Ukraine conflict fail. Proposed actions could affect Russia’s oil production, shipping routes, and export infrastructure, potentially disrupting flows from one of the world’s largest crude exporters. Analysts at ING noted that with Brent crude trading near $60 per barrel and a surplus outlook, the U.S. may have room to pursue more aggressive sanctions without immediate economic fallout.
On the data front, oil price gains were partially tempered by U.S. inventory figures. According to the Energy Information Administration, U.S. crude oil stocks fell by 1.27 million barrels for the week ended December 12, smaller than the expected 2.4 million barrel draw. Meanwhile, gasoline and distillate inventories rose sharply, signaling softer demand for refined fuel products.
Overall, oil markets remain sensitive to geopolitical developments, sanctions policy, and supply-demand dynamics, all of which continue to shape crude oil price movements.
