Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Oil prices climbed in Asian trading on Wednesday as investors digested a mixed U.S. crude inventory report and assessed the broader supply outlook ahead of a modest production increase by OPEC+ in November.
As of 22:11 ET (02:11 GMT), Brent crude futures for December delivery rose 0.7% to $65.91 per barrel, while West Texas Intermediate (WTI) crude gained 0.8% to $62.23 per barrel. Both benchmarks were little changed in the prior session after volatile trading, reflecting market uncertainty around demand and supply dynamics.
According to data from the American Petroleum Institute (API), U.S. crude inventories grew by 2.78 million barrels in the week ending October 4, exceeding expectations of a 2.25 million-barrel rise. The increase marked a reversal from the previous week’s 3.67 million-barrel draw, signaling weaker demand and raising short-term bearish sentiment.
However, the API also reported declines in gasoline and distillate stocks, down 1.3 million and 1.8 million barrels respectively. The fall suggests steady fuel consumption despite reduced refinery runs amid seasonal maintenance. Traders are now awaiting confirmation from the U.S. Energy Information Administration (EIA)’s official data later Wednesday, which could further influence price direction.
The modest rebound in oil prices follows last week’s decision by OPEC+ to raise output by 137,000 barrels per day in November, mirroring October’s increase. The move underscores the alliance’s cautious approach to balancing market stability while slowly reclaiming market share.
Meanwhile, U.S. oil production continues to approach record highs. The EIA revised its 2025 forecast upward to 13.53 million barrels per day, citing stronger output from the Permian Basin and the Gulf of Mexico. The agency also cautioned that rising crude inventories may keep pressure on prices through year-end, even as fuel demand remains resilient.
