ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Oil prices fell on Wednesday as global financial markets experienced a broad selloff fueled by concerns over economic growth and weakening fuel demand. The stronger U.S. dollar and reports of rising crude inventories in the United States added further pressure on prices.
Brent crude futures dropped 36 cents, or 0.56%, to $64.08 a barrel by 0221 GMT, while U.S. West Texas Intermediate (WTI) crude slipped 40 cents, or 0.66%, to $60.16. Both benchmarks extended losses from the previous session, mirroring declines in global equities.
Asian stock markets followed Wall Street’s overnight slump as investors grew increasingly cautious about stretched stock valuations—especially in sectors tied to artificial intelligence. The risk-off sentiment lifted the U.S. dollar against other major currencies, making dollar-denominated oil more expensive for foreign buyers and dampening demand.
“Crude oil is trading lower as risk sentiment shifted sharply negative, boosting the safe haven U.S. dollar, both of which weighed on crude prices,” said Tony Sycamore, market analyst at IG.
Adding to the bearish outlook, the American Petroleum Institute (API) reported that U.S. crude inventories rose by 6.52 million barrels for the week ending October 31, signaling weaker demand and higher supply.
On the production side, OPEC+—the alliance of the Organization of Petroleum Exporting Countries and its allies—agreed to increase output by 137,000 barrels per day in December. The group also announced it would pause further hikes during the first quarter of 2026, though analysts at LSEG noted this move is unlikely to provide significant support for near-term prices.
OPEC’s own output in October rose modestly by 30,000 barrels per day, as gains were offset by declines in Nigeria, Libya, and Venezuela.
Overall, the combination of economic uncertainty, a stronger dollar, and rising inventories continues to weigh on oil market sentiment, keeping both Brent and WTI under pressure.
