China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook 
Oil Prices Slide Nearly 3% as U.S.-Iran Talks Ease Geopolitical Tensions 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
Japan Election Poll Signals Landslide Win for Sanae Takaichi, Raising Fiscal Policy Concerns 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
Dollar Holds Firm as Markets Weigh Warsh-Led Fed and Yen Weakness Ahead of Japan Election 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
Oil prices retreated slightly in Asian trading on Thursday after reaching seven-week highs, as markets weighed an unexpected drop in U.S. crude inventories against rising geopolitical risks tied to Russia. As of 21:23 ET (01:23 GMT), Brent crude futures for November delivery slipped 0.3% to $69.09 per barrel, while West Texas Intermediate (WTI) crude fell 0.4% to $64.72 per barrel.
The pullback followed strong gains in the previous session, when both benchmarks surged more than 2% after the U.S. Energy Information Administration (EIA) reported a surprise draw in oil stockpiles. According to the EIA, U.S. crude inventories fell by 607,000 barrels in the week ending September 19, defying analyst forecasts for a build of around 800,000 barrels. Gasoline inventories dropped by 1.1 million barrels to 216.6 million, while distillate fuel supplies, including diesel and heating oil, declined by 1.7 million barrels to 123 million. The declines were attributed to stronger refinery runs and a modest uptick in demand.
Beyond inventory data, geopolitical tensions remain a key driver of oil markets. U.S. President Donald Trump delivered a sharper warning to European nations over reliance on Russian oil during his address at the United Nations, raising the prospect of new sanctions that could target Russia’s energy exports. Although no immediate measures were announced, the hawkish rhetoric heightened fears of supply disruptions. Recent Ukrainian strikes on Russian energy infrastructure have also fueled concerns of reduced Russian oil flows, keeping a risk premium in place.
While supply-side pressures and geopolitical uncertainty continue to support prices, profit-taking after sharp gains limited further upside in Asian trading. Market watchers are closely monitoring U.S. policy signals and developments in Russia, with expectations that ongoing tensions could maintain volatility in crude markets.
