Fed Unveils Stablecoin Rules Under GENIUS Act 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Trump, Xi Focus on Trade and AI at White House Summit 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Add as a preferred source on Google
Oil prices extended their rally for a second consecutive day on Wednesday as signs of tightening supply supported the market. Brent crude futures inched up 27 cents to trade at $67.90 per barrel by 0005 GMT, while U.S. West Texas Intermediate (WTI) futures gained 28 cents to $63.69. Both benchmarks had climbed more than $1 per barrel on Tuesday, driven by stalled negotiations over resuming exports from Iraq’s Kurdistan region.
Talks between Iraq’s federal government, the Kurdish regional government, and international oil companies aimed at restarting pipeline shipments to Turkey have hit a roadblock. The proposed deal would have allowed around 230,000 barrels per day (bpd) of crude exports to resume. However, demands for debt repayment guarantees have delayed progress, leaving pipeline flows halted since March 2023.
Further supporting prices, data from the American Petroleum Institute (API) revealed that U.S. crude and gasoline inventories dropped last week, while distillate stockpiles increased. According to market sources, crude stocks fell by 3.82 million barrels in the week ending September 19, with gasoline inventories declining by 1.05 million barrels. Distillates, however, posted a rise of 518,000 barrels. Traders are now awaiting official U.S. Energy Information Administration (EIA) data, which is expected to show increases in both crude and gasoline supplies, alongside a fall in distillates.
Concerns over supply are further amplified by restrictions in Venezuela. Chevron, a major U.S. oil company, will reportedly be able to export only about half of the 240,000 bpd it produces in partnership with state-run entities. Although the company secured authorization in July to continue operations in the sanctioned nation, new regulatory limits mean less Venezuelan heavy, high-sulphur crude will reach the U.S.
With shrinking inventories, delayed Iraqi exports, and constrained Venezuelan shipments, the global oil market faces renewed upward pressure, fueling expectations of tighter supply in the months ahead.
