Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Oil prices edged higher in early Thursday trading, reversing the previous day’s losses, as encouraging economic signals from top oil-consuming nations and signs of easing global trade tensions supported market sentiment. Brent crude rose 27 cents (0.39%) to $68.79 a barrel, while U.S. West Texas Intermediate (WTI) climbed 31 cents (0.47%) to $66.69. Both benchmarks had dropped more than 0.2% in the prior session.
The U.S. Energy Information Administration reported a sharper-than-expected drop in crude inventories, falling by 3.9 million barrels to 422.2 million barrels last week. This outpaced analysts’ forecasts of a 552,000-barrel decline, indicating tighter supply, stronger refinery activity, and rising demand. However, larger-than-expected builds in gasoline and diesel stocks tempered gains.
John Paisie, president of Stratas Advisors, noted continued support from favorable refining margins, with product spreads remaining relatively wide across regions. He added that the recent easing of U.S.-China trade restrictions, including the lifting of a ban on AI chip sales and a new trade agreement with Indonesia, also provided bullish momentum.
China’s Q2 economic slowdown was less severe than feared, partly due to front-loading ahead of U.S. tariffs. June data showed an 8.5% year-on-year increase in Chinese crude oil throughput, signaling stronger fuel demand from the world’s largest oil importer.
In the U.S., the Federal Reserve’s latest report showed modest economic growth, though future expectations remain neutral to slightly pessimistic amid ongoing concerns over inflation driven by tariffs.
President Donald Trump expressed optimism over a potential drug-related agreement with China and hinted at near-term trade deals with India and Europe. Analysts remain cautious, however, as prolonged trade tensions and tariffs could weigh on global growth and curb long-term fuel demand, limiting oil’s upside.
