Dollar Holds Near Two-Month High as Yen Approaches 160 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Trump, Xi Focus on Trade and AI at White House Summit 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
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Oil prices fell sharply during Asian trading on Wednesday as markets reacted to comments from U.S. President Donald Trump suggesting Venezuela could soon supply tens of millions of barrels of crude oil to the United States. The development fueled concerns over rising global oil supply and added pressure to already struggling crude markets.
Brent crude futures for March dropped around 1% to trade near $60.11 per barrel, while U.S. West Texas Intermediate (WTI) crude declined about 1.1% to $56.29 per barrel. The losses extended a weak trend seen earlier in the week, with oil prices on track for their worst annual performance in five years amid persistent oversupply worries.
Trump stated via social media that Venezuela would deliver between 30 and 50 million barrels of oil to Washington, with the U.S. selling the crude at market prices. According to Trump, the proceeds would be controlled by the U.S. government to benefit both Venezuela and the United States. The announcement follows the recent capture of Venezuelan President Nicolas Maduro by U.S. forces, after which Trump said Washington was assuming control of Venezuela and planned to reopen its oil industry.
Markets interpreted these moves as a signal that U.S. sanctions on Venezuela’s oil sector could be lifted, potentially releasing large volumes of crude back into global markets. While geopolitical uncertainty added some risk premium to prices, oil remained under pressure due to expectations of a supply glut, especially looking ahead to 2026.
However, analysts cautioned that Venezuela’s oil production may not rebound quickly. Years of underinvestment, aging infrastructure, political instability, and limited storage capacity could delay any meaningful increase in output. Data from maritime intelligence firm Kpler suggested near-term production gains are unlikely.
Oil traders are also closely watching developments around a possible Russia-Ukraine ceasefire. The U.S. recently joined European allies in pledging security guarantees to Kyiv and offered to assist with ceasefire monitoring. Any breakthrough could eventually ease sanctions on Russia, potentially adding more oil supply to the market and further weighing on crude prices.
