Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Oil prices held largely steady in Asian trading on Wednesday, recovering slightly after a sharp drop in the previous session. Traders assessed a smaller-than-expected decline in U.S. crude inventories alongside renewed optimism surrounding potential progress in Russia-Ukraine peace talks—two factors that continue to shape sentiment across global energy markets. Brent oil futures for January delivery inched up 0.2% to $62.60 a barrel, while West Texas Intermediate (WTI) crude futures rose 0.2% to $58.08. Both benchmarks fell nearly 1.5% on Tuesday, hitting their lowest levels in more than a month.
Fresh data from the American Petroleum Institute showed U.S. crude stockpiles slipped by 1.9 million barrels for the week ending November 21, below forecasts for a 2.4-million-barrel draw. The weaker-than-expected reduction fueled concerns about slowing year-end demand, particularly ahead of the holiday travel period. Gasoline inventories rose by 500,000 barrels, and distillate stocks climbed by 800,000 barrels, reinforcing signs of softer fuel consumption. Analysts at ING described the data as “largely neutral,” noting that both crude and gasoline changes missed expectations.
At the same time, geopolitical developments added pressure to prices. Ukrainian President Volodymyr Zelenskiy signaled readiness to move forward with a U.S.-backed peace framework aimed at ending the conflict with Russia. A revised proposal, discussed earlier this week in Geneva with U.S. and European officials, includes phased security guarantees. While Washington and Kyiv have expressed positive momentum, uncertainty remains over Russia’s stance, keeping markets cautious.
Hopes for a credible peace deal have raised the possibility of easing restrictions on Russian crude and refined product exports. Any return of additional supply could weigh on global oil prices, counteracting the limited support coming from U.S. inventory declines. Investors are now awaiting official U.S. government stockpile data and further updates on diplomatic efforts as they gauge the next direction for crude markets.
