Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Oil prices edged lower in early Asian trading on Thursday, easing after a sharp rally fueled by escalating tensions between the U.S. and Iran. Brent crude futures dipped 0.4% to $69.47 a barrel, while West Texas Intermediate (WTI) fell 0.4% to $67.95, retracing part of Wednesday’s 4% surge.
The previous session’s rally was driven by geopolitical risks after the U.S. authorized voluntary departures of military dependents from bases in Bahrain and Kuwait. This move, amid rising tensions with Iran, sparked fears of potential disruptions to crude supply across the Gulf—a key global oil hub. U.S. President Donald Trump expressed doubt about reaching a nuclear deal with Iran, warning that military options remain if talks fail. Iran's defense minister responded by threatening retaliation against U.S. bases in the region.
Oil markets reacted swiftly to the heightened risk of conflict, as any escalation could impact key shipping lanes and energy infrastructure, adding a geopolitical risk premium to crude prices.
Meanwhile, investor sentiment was also influenced by progress in U.S.-China trade negotiations. President Trump stated that a framework deal is “done,” pending final approval by him and Chinese President Xi Jinping. The deal includes export licenses for China’s rare earth minerals and allows Chinese students to remain in the U.S., while maintaining existing tariffs on both sides.
Trump also noted that letters will soon be sent to major trade partners, outlining “take it or leave it” terms ahead of a July 9 deadline tied to the suspension of broader “liberation day” tariffs.
The easing of trade uncertainty has improved the global economic outlook, potentially boosting future oil demand. However, geopolitical risks remain a key driver of near-term price volatility.
