Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Oil prices were largely unchanged in early Asian trade on Friday, stabilizing after a 1% drop in the previous session. The market’s earlier war risk premium eased following a ceasefire agreement between Israel and Hamas, marking the first phase of a U.S.-brokered plan to end the Gaza conflict.
Brent crude futures edged up 9 cents, or 0.1%, to $65.31 per barrel by 0044 GMT, while U.S. West Texas Intermediate (WTI) crude rose 12 cents, or 0.2%, to $61.63. Both benchmarks remained on track for weekly gains of around 1.2%, recovering from steep losses last week.
The ceasefire deal, ratified by Israel’s government, includes a halt to hostilities, a partial Israeli withdrawal from Gaza, and the release of hostages by Hamas in exchange for the freedom of hundreds of Palestinian prisoners. Analysts said the breakthrough significantly reduced geopolitical tensions that had fueled oil price volatility over the past two years.
According to ANZ analyst Daniel Hynes, the agreement “shifted market focus back to the looming oil surplus, as OPEC moves forward with unwinding production cuts.” The Organization of the Petroleum Exporting Countries and its allies (OPEC+) recently agreed to a smaller-than-expected output hike for November, slightly easing oversupply concerns.
However, broader market sentiment remains cautious. Investors are monitoring the potential impact of a prolonged U.S. government shutdown, which could weigh on economic growth and weaken oil demand. Meanwhile, uncertainty surrounding stalled peace talks in Ukraine continues to support prices, given ongoing sanctions on Russia — the world’s second-largest oil exporter.
Despite geopolitical developments, the oil market remains finely balanced, with traders closely watching OPEC+ production trends and global demand recovery signals as key drivers for near-term price direction.
