Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
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.
