Wall Street Slips as Tech Stocks Slide on AI Spending Fears and Earnings Concerns 
China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook 
Oil Prices Surge Toward Biggest Monthly Gains in Years Amid Middle East Tensions 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
Japan Election Poll Signals Landslide Win for Sanae Takaichi, Raising Fiscal Policy Concerns 
Gold Prices Pull Back After Record Highs as January Rally Remains Strong 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
Oil Prices Slide Nearly 3% as U.S.-Iran Talks Ease Geopolitical Tensions 
China Home Prices Rise in January as Government Signals Stronger Support for Property Market 
Asian Stocks Waver as Trump Signals Fed Pick, Shutdown Deal and Tech Earnings Stir Markets 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
Oil prices drifted lower in Asian trading on Wednesday as rising U.S. crude inventories and anticipation surrounding upcoming U.S. sanctions on major Russian oil companies added pressure to the market. Brent oil futures for January eased 0.4% to $64.61 per barrel, while West Texas Intermediate (WTI) crude also slipped 0.4% to $60.51. The slight pullback followed a more than 1% jump on Tuesday after Russia’s Novorossiysk port resumed oil loadings following a two-day shutdown caused by a Ukrainian attack.
Fresh data from the American Petroleum Institute indicated a significant build in U.S. crude stockpiles, with inventories rising by 4.4 million barrels for the week ending November 18—more than triple the previous week’s increase. Early signals suggested that gasoline and distillate inventories may have climbed as well, reinforcing concerns of an emerging supply overhang heading into early 2026. Analysts noted that while production remains elevated globally, demand growth may not keep pace, potentially leaving the market oversupplied. ING analysts described the report as “relatively bearish” but emphasized that traders are now awaiting the U.S. Energy Information Administration’s official inventory figures, which are often more influential in market movements.
At the same time, traders are closely watching the impending U.S. sanctions on Russia’s Rosneft and Lukoil, set to take effect on November 21. These measures will restrict access to U.S.-dollar financing and limit transactions with the companies, raising concerns about potential disruptions to Russian diesel and crude supply. Analysts noted that fears over tightening Russian supply—amplified by Ukrainian attacks on Russian refineries—continue to support market sentiment despite the broader bearish inventory data.
Adding a geopolitical twist, an Axios report suggested that the Trump administration has been quietly coordinating with Moscow on a proposal to end the war in Ukraine. Any diplomatic breakthrough could reshape global oil supply expectations, reduce the geopolitical risk premium, and potentially weigh on crude prices in the months ahead.
