Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Oil prices held steady early Friday following a sharp rally in the previous session, fueled by easing U.S.-China trade tensions and a new trade agreement between the U.S. and the UK. Brent crude inched up 7 cents to $62.91 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 7 cents to trade at $59.98 as of 0121 GMT. This comes after Brent rose 2.8% and WTI jumped 3.2% on Thursday.
Investor sentiment improved as U.S. Treasury Secretary Scott Bessent prepares to meet China’s Vice Premier He Lifeng in Switzerland on May 10, aiming to resolve trade disputes that have threatened global crude oil demand. Simultaneously, U.S. President Donald Trump and British Prime Minister Keir Starmer announced a breakthrough trade deal, with the UK slashing tariffs on U.S. goods to 1.8% from 5.1%. The U.S., in turn, lowered duties on British car imports but retained a 10% tariff on most other goods.
Meanwhile, oil supply dynamics remain in focus. OPEC+ is expected to gradually boost output, though a Reuters survey shows April production dipped due to declines in Libya, Venezuela, and Iraq. These cuts offset scheduled increases, potentially limiting the downward pressure on prices.
Additionally, stricter U.S. sanctions on Iran could tighten global supply. Recent penalties against two Chinese refiners for purchasing Iranian crude have disrupted their operations, forcing them to offload oil under alternative labels, sources told Reuters.
While geopolitical developments support prices, rising supply from OPEC+ could cap gains in the near term. Traders are closely watching upcoming trade talks and sanctions enforcement for further market direction.
