Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Oil prices held steady in Asian trading on Tuesday after a strong rally in the previous session, as investors evaluated the implications of a smaller-than-expected OPEC+ production increase. As of 21:44 ET (01:44 GMT), Brent crude futures for September delivery rose 0.2% to $65.60 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.2% to $61.80 per barrel. Both benchmarks advanced over 1% on Monday, rebounding from a sharp weekly loss after OPEC+ announced only a modest supply boost, easing fears of a sudden market glut.
The OPEC+ alliance, which includes Russia, agreed to raise production by about 137,000 barrels per day—continuing the cautious pace set last October. The decision signaled the group’s ongoing focus on price stability rather than market share expansion. Analysts at ING noted that the alliance’s conservative approach reflects expectations of a possible supply surplus later this year and in 2026, as demand growth slows amid economic weakness in China and Europe.
According to the International Energy Agency (IEA), global oil production could rise by more than 2 million barrels per day next year, driven by both OPEC+ and non-OPEC producers such as the United States and Brazil. However, demand is expected to remain subdued, creating the risk of a growing surplus that could weigh on prices in the medium term.
Oil prices also found support from escalating geopolitical tensions. Ukraine’s intensified drone attacks on Russian refineries in Kirishi and Ryazan disrupted fuel processing, tightening Russia’s export capacity and adding upward pressure on crude prices. Meanwhile, the ongoing U.S. government shutdown since October 1 has delayed key economic data releases, clouding the Federal Reserve’s policy outlook and increasing caution among investors. The resulting uncertainty continues to temper bullish sentiment in oil markets, as concerns mount over broader economic risks.
