Wall Street Futures Climb as Trump Signals Iran Deal Progress 
RBA Raises Interest Rates to 4.35% Amid Rising Inflation Risks and Middle East Tensions 
Asian Stocks Rally as Japan’s Nikkei Hits Record High on U.S.-Iran Peace Optimism 
Oil Prices Slide as Middle East Tensions Ease and U.S. Crude Inventories Shrink 
Trump-Xi Meeting 2026: U.S.-China Trade Tensions Escalate Ahead of Beijing Summit 
Yen Surges After Suspected Japan Currency Intervention 
China Banks Halt New Loans to Sanctioned Refineries Amid U.S.-Iran Oil Crackdown 
Asian Stocks Rally as Iran War Fears Ease and AI Boom Lifts South Korea 
European Stocks Volatile as U.S.-Iran Tensions Threaten Oil Supply and Global Markets 
Asian Currencies Hold Steady as RBA Rate Hike and Middle East Tensions Shape Market Sentiment 
Oil Prices Ease in Asian Trade as Gulf Tensions and Hormuz Shipping Risks Weigh on Markets 
Italy Services PMI Nears Stabilization as Middle East Tensions Push Costs Higher 
Fitch Upgrades Argentina to B- as Milei Reforms Strengthen Economy 
Copper Prices Hold Near Three-Week Low Amid Strong Dollar and Global Slowdown Fears 
Australia Posts Surprise Trade Deficit as Imports Surge on AI Equipment Demand 
Gold Prices Rise as Weaker Dollar and U.S.-Iran Peace Hopes Boost Demand 
Japan Signals Readiness for More Yen Intervention Ahead of Bessent Visit 
Oil prices moved modestly higher during Asian trading on Thursday after suffering a steep decline of more than 7% in the previous session. Investors continued to monitor developments surrounding a possible U.S.-Iran agreement and reviewed the latest U.S. crude inventory data for signs of global demand trends.
Brent crude futures for July delivery climbed 0.9% to $102.14 per barrel, while West Texas Intermediate (WTI) crude futures gained 1.3% to trade at $96.24 per barrel. The recovery followed heavy losses on Wednesday, triggered by reports that Washington and Tehran were nearing a diplomatic understanding that could reduce tensions in the Middle East.
According to reports from Axios, the White House is close to securing a one-page memorandum of understanding with Iran aimed at ending the ongoing conflict. Sources indicated Tehran is expected to respond to the proposal within 48 hours, marking one of the closest moments to a potential agreement since hostilities began.
An Iranian foreign ministry spokesperson also confirmed that Iran would officially respond to the U.S. proposal, according to comments carried by ISNA news agency.
The oil market remains highly sensitive to developments involving the Strait of Hormuz, a vital shipping route responsible for nearly 20% of global oil trade. Any improvement in regional stability could potentially restore disrupted oil flows and ease supply concerns.
However, gains in crude prices were limited after the U.S. Energy Information Administration (EIA) released weekly inventory data showing a smaller-than-expected draw in crude stockpiles. U.S. commercial crude inventories fell by 2.3 million barrels to 457.2 million barrels for the week ending May 1, compared with analyst expectations for a 3.4 million-barrel decline.
The EIA also reported gasoline inventories dropped by 2.5 million barrels, while distillate stockpiles declined by 1.3 million barrels. Strong U.S. petroleum exports highlighted continued international demand despite ongoing uncertainty in global energy markets.
