China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
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 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Oil prices edged higher on Tuesday after OPEC+ announced a smaller-than-expected production increase, while growing speculation about new sanctions on Russia added further support.
Brent crude rose 22 cents, or 0.33%, to $66.24 a barrel at 0005 GMT, while U.S. West Texas Intermediate (WTI) gained 24 cents, or 0.39%, to $62.50. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed to raise production in October by 137,000 barrels per day. This is significantly lower than the recent monthly increases of 555,000 bpd in August and September, and 411,000 bpd in July and June, surprising analysts who had anticipated a larger boost.
According to ANZ senior commodity strategist Daniel Hynes, the move signals a reversal of cuts initially planned to last until 2026, following the swift return of previously idled barrels. The restrained output increase comes at a time when supply concerns are already elevated due to geopolitical tensions.
Market sentiment was further lifted by prospects of fresh sanctions on Russia. The measures are under discussion after Russia launched its largest airstrike on Ukraine, igniting a government building in Kyiv. U.S. President Donald Trump indicated readiness to advance to a second phase of restrictions, while the European Union’s top sanctions official visited Washington to coordinate what could be the first joint U.S.-EU measures since Trump’s return to office. Any further sanctions are expected to curb Russian oil exports, tightening global supply and supporting higher crude prices.
Meanwhile, the U.S. Federal Reserve’s upcoming Federal Open Market Committee meeting has traders pricing in an 89.4% chance of a quarter-point rate cut. Lower borrowing costs could boost economic growth and energy demand, providing additional tailwinds for oil prices.
