Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
Dollar Slips as Weak U.S. Manufacturing Data Increases Pressure for Fed Rate Cuts 
South Korea Inflation Edges Up in November as Food and Service Costs Climb 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Tech Stocks Lift S&P 500 as Fed Rate-Cut Expectations Rise 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Oil Prices Rise Amid Middle East Tensions, Set for Weekly Gains
Oil prices increased during Friday’s Asian trading session, driven by concerns over escalating conflict in the Middle East. Israel's vow to strike Iran following an early-October attack has kept traders on edge, maintaining a risk premium in the market.
Israel-Iran Conflict Fuels Market Volatility
The heightened tensions in the Middle East have stirred fears of potential disruptions in global oil supply, particularly from key producers in the region. Traders are closely watching for any developments that could impact the oil flow. U.S. efforts to broker a ceasefire have made limited progress, adding to the uncertainty.
Brent and WTI Futures Poised for Weekly Gains
Brent crude futures for December delivery rose by 0.4%, reaching $74.70 a barrel, while West Texas Intermediate (WTI) crude climbed 0.5% to $70.55 per barrel. Both benchmarks are on track to close the week with gains of 1% to 2%, rebounding from the sharp losses seen earlier in October.
However, the recovery in oil prices was tempered by a larger-than-expected build in U.S. crude inventories, signaling that supply in the world’s largest fuel consumer remains robust. Additionally, a strong U.S. dollar, driven by expectations of fewer Federal Reserve rate cuts, weighed on crude demand.
China Stimulus Measures in Focus
Traders remain cautious over slowing oil demand in China, the world’s top importer. Despite a series of stimulus announcements, optimism has been limited due to a lack of clear details from Beijing. The upcoming November meeting of the Standing Committee of the National People’s Congress is expected to provide more insights on future fiscal policies.
