Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
China Agrees to Buy 20 Million Tons of U.S. Coal 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
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Oil prices edged up in early Monday trade, supported by short-covering despite lingering uncertainty over U.S.-China trade talks and potential increases in OPEC+ supply. Brent crude rose 9 cents to $66.96 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 9 cents to $63.11 by 0025 GMT.
Michael McCarthy, CEO of Moomoo Australia, noted that "the absence of fresh news is pushing oil prices modestly higher" as traders brace for possible OPEC+ output hikes at the May 5 meeting and rising U.S. production. Some OPEC+ members are expected to propose accelerating production increases for a second straight month, adding to fears of oversupply.
Last week, Brent and WTI fell over 1% due to concerns that tariffs and a sluggish global economy could weaken fuel demand. Market sentiment remains shaky amid conflicting signals between U.S. President Donald Trump and Beijing regarding the progress of trade negotiations. U.S. Treasury Secretary Scott Bessent on Sunday declined to confirm Trump’s claims of ongoing talks, while China also denied any discussions.
Adding to geopolitical tensions, nuclear negotiations between Iran and the U.S. continue this week in Oman. Iranian Foreign Minister Abbas Araqchi expressed caution over the talks' prospects. Meanwhile, a massive explosion at Iran’s key port, Bandar Abbas, killed at least 40 and injured more than 1,200, intensifying regional instability.
In a separate development, U.S. officials urged Russia and Ukraine to advance peace talks following President Trump's meeting with Ukrainian President Volodymyr Zelenskiy at the Vatican.
