China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
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 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Oil prices held steady in Asian trading on Tuesday, pausing their recent rebound as reports of a potential output hike by OPEC+ offset optimism over easing trade tensions between the U.S. and China. The market’s recent gains were driven by strict U.S. sanctions on Russia’s major crude producers and renewed hopes for a trade deal between Washington and Beijing. However, signs that OPEC+ may increase production in the coming months tempered bullish momentum.
Brent crude futures for December slipped 0.1% to $65.59 per barrel, while West Texas Intermediate (WTI) crude futures fell 0.1% to $61.26 per barrel by 21:21 ET (01:21 GMT). Reports from Bloomberg indicated that OPEC+ is considering a third monthly production increase of about 137,000 barrels per day in December, with at least eight member nations expected to support the proposal during their meeting this Sunday. The move comes as the group continues to unwind two years of supply cuts aimed at stabilizing prices.
The production boost reflects OPEC+’s strategy to regain market share despite recent price weakness. Meanwhile, the market remains focused on U.S. sanctions against Russia’s top oil firms, Lukoil and Rosneft, which threaten to disrupt global crude supply. While Moscow has historically managed to circumvent such restrictions, the sanctions mark a tougher stance by the U.S. administration over the war in Ukraine. Washington has also targeted India and China, key buyers of Russian oil, with tariffs and trade measures.
Despite geopolitical headwinds, sentiment was supported by reports that the U.S. and China have reached a framework trade agreement, with further discussions expected when Presidents Donald Trump and Xi Jinping meet in South Korea later this week. The potential thaw in trade relations provided some relief to oil markets already navigating a volatile global landscape.
