Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Oil prices slipped in early Thursday trade, pressured by a surprise build in U.S. fuel inventories and Saudi Arabia's price cut for Asian buyers. Brent crude futures dropped 21 cents, or 0.3%, to $64.65 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 29 cents, or 0.5%, to $62.58 as of 0047 GMT.
The decline followed a nearly 1% loss on Wednesday after U.S. Energy Information Administration (EIA) data showed gasoline and distillate stockpiles rose more than expected, signaling weakened demand in the world's largest oil consumer. This bearish inventory data added to concerns about slowing economic activity.
In a further bearish signal, Saudi Arabia, the leading exporter within the OPEC+ alliance, lowered its July crude oil prices for Asian buyers to near four-year lows. The move came shortly after OPEC+ announced an increase in output by 411,000 barrels per day for July, suggesting a more aggressive push to regain market share.
According to Reuters, the pricing strategy by Saudi Arabia and Russia aims to pressure overproducing members and reassert dominance in the global oil market. Analysts say the decision reflects a complex balancing act within the OPEC+ group as it navigates fragile demand recovery.
Global trade tensions also weighed on sentiment. Canada signaled possible retaliatory measures while the European Union reported progress in trade talks amid renewed U.S. tariffs on metals. Heightened volatility around President Trump’s tariff policies has deepened concerns of a global economic slowdown.
Ole Hansen, analyst at Saxo Bank, noted that uncertainty driven by shifting U.S. trade policy continues to rattle markets and fuel fears of reduced energy demand, casting a shadow over near-term oil price recovery.
