Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Oil prices held steady on Thursday after the U.S. Federal Reserve cut its benchmark interest rate as expected and signaled more reductions later this year. Brent crude slipped 0.12% to $67.87 a barrel, while U.S. West Texas Intermediate (WTI) fell 0.16% to $63.95.
The Fed lowered its policy rate by a quarter percentage point on Wednesday, highlighting concerns over a weakening labor market. Analysts suggest cheaper borrowing costs could stimulate economic activity, lifting oil demand. According to Rystad Energy’s chief economist Claudio Galimberti, Brent may see support from further Fed cuts despite bearish pressure from OPEC+ increasing supply.
On the supply side, U.S. Energy Information Administration (EIA) data showed crude inventories dropped sharply last week, with net imports at record lows and exports hitting a two-year high. However, distillate stocks rose by 4 million barrels—far exceeding the expected 1 million increase—raising concerns about demand in the world’s largest oil consumer.
Global oil demand averaged 104.4 million barrels per day through September 17, according to JP Morgan, marking a year-on-year rise of 0.52 million barrels. Year-to-date demand growth stands at 0.8 million barrels, nearly in line with the bank’s forecast of 0.83 million. The bank noted easing flight activity in the U.S. and China after the peak travel season, offset by growing demand in Europe, the Middle East, and Latin America.
Overall, while OPEC+ supply growth may pressure prices, the Fed’s accommodative policy stance and resilient global demand suggest underlying support for oil markets in the months ahead.
