Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
Japan Election Poll Signals Landslide Win for Sanae Takaichi, Raising Fiscal Policy Concerns 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
Asian Stocks Waver as Trump Signals Fed Pick, Shutdown Deal and Tech Earnings Stir Markets 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
Wall Street Slips as Tech Stocks Slide on AI Spending Fears and Earnings Concerns 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Oil Prices Slide Nearly 3% as U.S.-Iran Talks Ease Geopolitical Tensions 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
Indonesia Stocks Face Fragile Sentiment After MSCI Warning and Market Rout 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
Why Trump’s new pick for Fed chair hit gold and silver markets – for good reasons 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
Oil prices slipped slightly in Asian trading on Wednesday, despite optimism that the U.S. government was close to ending its record-breaking 42-day shutdown. The temporary support from the potential reopening was outweighed by lingering fears of an oil supply glut and a strong U.S. dollar that continued to pressure the market.
Brent crude futures for January edged down 0.2% to $65.04 per barrel, while West Texas Intermediate (WTI) crude also fell 0.2% to $60.85 per barrel by 20:21 ET (01:21 GMT). The modest losses came as traders weighed the impact of political and economic developments in the world’s largest oil consumer.
The U.S. Senate approved a bill on Tuesday to reopen the government, with the House of Representatives expected to vote in favor on Wednesday. Once signed into law by President Donald Trump, the measure will officially end the longest shutdown in U.S. history. The prospect of restored federal operations provided some support to crude markets, as the shutdown had caused widespread disruptions across several sectors, including travel and energy logistics.
Airports across the U.S. faced significant challenges due to staffing shortages in air traffic control and safety departments, resulting in thousands of flight cancellations. These disruptions dampened fuel demand, compounding pressure on oil prices even as traders looked for positive signals from Washington.
Meanwhile, concerns over global supply continued to weigh heavily on sentiment. Reports indicated that Russia’s Lukoil declared force majeure at an Iraqi oilfield, a move linked to the tightening U.S. sanctions on Moscow’s energy sector. The development highlighted growing geopolitical risks in global oil markets, but the potential for oversupply—driven by steady output from major producers—remained the dominant theme restraining price recovery.
Overall, traders remain cautious as oil markets balance geopolitical tensions, U.S. policy shifts, and persistent fears of excess supply that could cap price gains in the near term.
