U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Oil prices slipped in early Asian trading on Wednesday, retreating from a two-week high after U.S. inventory data revealed an unexpected spike in crude stockpiles. Brent crude futures for September delivery fell 0.3% to $69.91 per barrel, while West Texas Intermediate (WTI) dropped 0.4% to $68.10.
The dip followed gains on Tuesday driven by concerns over supply disruptions after fresh Houthi attacks in the Red Sea. A drone and speedboat strike on the Liberian-flagged, Greek-operated vessel Eternity C killed four crew members off Yemen’s coast, escalating geopolitical risks.
Market sentiment shifted after the American Petroleum Institute (API) reported a surprising 7.1 million-barrel build in U.S. crude inventories for the week ending July 4, far above the expected 2.8 million-barrel draw. This marked the largest weekly build since January. Meanwhile, gasoline inventories fell by 2.2 million barrels and distillates declined by 800,000 barrels, signaling potential demand weakness.
Traders now await confirmation from the Energy Information Administration (EIA) later Wednesday. A similar reading would reinforce concerns about oversupply in the U.S. market, potentially weighing further on crude prices.
Adding to market uncertainty, U.S. President Donald Trump on Tuesday announced a 50% tariff on copper imports and hinted at further tariffs on semiconductors and pharmaceuticals. The move follows tariff letters sent to 14 countries, with levies of up to 40% and a blanket 25% tariff on all Japanese and South Korean goods starting August 1. Trump indicated more announcements involving “a minimum of seven countries” would follow.
With rising geopolitical tensions and trade policy shifts, oil markets remain on edge amid growing volatility and supply-demand imbalances.
